Today, Malcolm Turnbull has overtaken Billy McMahon to be the 21st longest serving Australian Prime Minister. Australia has had 29 Prime Ministers since Federation in 1901.
So – Congratulations Malcolm!
Here are a few fun facts:
When McMahon lost the 1972 election, the unemployment rate was 2.5 per cent – under Turnbull today it is 5.7 per cent.
Under McMahon, there was a budget surplus of 2.0 per cent of GDP, now it is a deficit of 1.6 per cent.
Under McMahon, government spending was 18.5 per cent of GDP, now it is 25.2 per cent.
Under McMahon, the tax to GDP ratio was 16.9 per cent, now it is 22.2 per cent.
Under McMahon, the government had net assets that totaled 1.6 per cent of GDP, now government net debt is 19.5 per cent of GDP.
In another 57 days, Turnbull will move to number 20, overtaking Harold Holt, and he is a mere 92 days from overtaking Tony Abbott who is currently the 19th longest serving PM. Turnbull will need to stay in office until 2034 if he is to overtake Bob Menzies as Australia’s longest serving PM.