John Stone

John Owen Stone (born 31 January 1929) is a former Australian public servant and politician. He was Secretary to the Treasury between 1979 and 1984, and a senator for Queensland, representing the National Party, from 1987 to 1990. Early life Stone was born on 31 January 1929 in Perth, Western Australia. After gaining first class honours in mathematical physics for his bachelor of science degree and representing his state at hockey (under 21), he was selected as the Rhodes Scholar from Western Australia for 1951. At Oxford he was awarded first class honours in Philosophy, Politics and Economics (PPE) and won the James Webb Medley Prize for Economics. Public service career In 1954, Stone returned to Australia and joined the Treasury. He rose within the Treasury department to become Secretary during the period of the Fraser government. He penned a severe critique of Fraser's economic policies, which was used against the Liberal Party once the Australian Labor Party won the 1983 federal election. He supported some of the Hawke-Keating government's economic reforms, although he had little time for Bob Hawke or Paul Keating personally. While his resignation from the Treasury did not become effective until 14 September 1984, he announced his imminent departure on 15 August 1984, just six days before the 1984–85 Budget was handed down. That was seen by commentators at the time as a strongly adverse comment on the government's direction. Despite holding what were seen by some to be neoliberal economic views, Stone initially opposed the decision in December 1983 to float the Australian dollar, and consistently deplored a consumption tax. In fact, after it was introduced, he repeatedly denounced the GST, and then–Treasurer Peter Costello.