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Noel Vernon Lough | |
|---|---|
| Secretary to the Treasury | |
| In office 1977–1980 | |
| Preceded by | Henry Lang |
| Succeeded by | Bernie Galvin |
| Personal details | |
| Born | 20 March 1920 Wellington, New Zealand |
| Died | 7 February 2011 (aged 90) Wellington, New Zealand |
| Spouse | Joan Lough |
| Education | Victoria University of Wellington |
| Profession | Public servant, economist |
| Military service | |
| Branch/service | Royal New Zealand Air Force |
| Rank | Flying Officer |
Noel Vernon Lough CMG (20 March 1920 – 7 February 2011) was a New Zealand economist and public servant who served as Secretary to the Treasury from 1977 to 1980.[1]
Early life and career
[edit]Lough was born in Wellington on 20 March 1920. Joining the New Zealand Treasury as a cadet in 1937, he completed studies in accountancy and economics at Victoria University College.[2][3] He served as a Flying Officer in the Royal New Zealand Air Force during the Second World War before transferring to the Reserve of Air Force Officers in December 1945.[4] Lough joined the Economic Stabilisation Commission alongside Henry Lang.[2] During the 1950s, he served in Washington, D.C. as Financial Secretary at the New Zealand Embassy, later returning to Wellington as Assistant and Deputy Secretary at Treasury.[5] There he represented New Zealand on delegations to the World Bank and the International Monetary Fund (IMF).[6] From 1973 to 1974, Lough served as President of the New Zealand Association of Economists.[7]
Secretary to the Treasury (1977–1980)
[edit]Succeeding Henry Lang as Secretary to the Treasury in 1977, Lough expanded the department's role beyond traditional accounting and expenditure control to place greater emphasis on structural economic policy analysis.[8] This reorientation was prompted by New Zealand's economic difficulties in the late 1970s, including high inflation, severe balance-of-payments deficits, and global oil shocks.[9] Under Lough, Treasury focused on analyzing the long-term structural effects of import licensing, price controls, and industrial subsidies.[3] To support the increased focus on economic analysis and to build policy capacity, Lough recruited university-trained economists into senior roles. Among his recruits was Graham Scott, who later succeeded Bernie Galvin as Secretary to the Treasury in 1986.[10]
During his term, Lough chaired the Officials' Economic Committee (OEC), which coordinated economic policy across government agencies including Trade and Industry and Foreign Affairs.[11] He led the team of senior officials that prepared the framework for the Australia–New Zealand Closer Economic Relations Trade Agreement (ANZCERTA, or Closer Economic Relations).[3] During the initial CER negotiations, official studies proceeded amid cautious political direction from Cabinet, where Prime Minister Robert Muldoon maintained a protective approach to domestic industry.[11] According to historian Malcolm McKinnon, the OEC under Lough maintained momentum for the agreement by focusing joint studies on structural reforms, such as the removal of import licensing.[3] The OEC proposed replacing the item-by-item concession model of the 1965 New Zealand Australia Free Trade Agreement (NAFTA) with an approach where all goods are included by default, with exemptions tightly limited to an agreed, temporary "deferred list."[11] Lough managed interdepartmental policy in Wellington during preliminary talks in 1978 and 1979, and represented New Zealand in joint discussions with senior Australian officials, including Sir Geoffrey Yeend and Sir Neil Currie.[11][3]
Under Lough's leadership, Treasury increasingly clashed with the economic strategy of Prime Minister Robert Muldoon, who favored direct state intervention, extensive regulatory controls, and trade protectionism to insulate the domestic economy from international shocks.[8] Following the 1979 oil shock, the government launched "Think Big", a series of large-scale industrial and energy projects financed through state borrowing and direct subsidies to achieve energy self-sufficiency.[9] Treasury under Lough opposed this interventionist approach, advocating structural liberalisation, market-based pricing, and stricter public spending controls instead.[8] Treasury warned Cabinet that several proposed projects carried excessive debt risks and uncertain long-term financial returns, but Muldoon—who was also Minister of Finance—and Energy Minister Bill Birch rejected these warnings and proceeded with the programme.[3]
He retired from Treasury in late 1980 and was succeeded by Bernie Galvin.[1]
Later work and the Lough Report
[edit]After leaving Treasury, Lough served on the New Zealand Planning Council.[12] In early 1990, the government appointed him to chair a review evaluating the implementation of the "Tomorrow's Schools" education reforms. The review was published as Today's Schools: A Review of the Education Reform Implementation Process, commonly known as the Lough Report.[13]
Personal life
[edit]Lough resided in Eastbourne, New Zealand. He and his wife Joan had four children. Lough died in Wellington on 7 February 2011, aged 90.[14]
Honours
[edit]In the 1981 New Year Honours, Lough was appointed a Companion of the Order of St Michael and St George (CMG) in recognition of his public service as Secretary to the Treasury.[15]
References
[edit]- 1 2 "Secretaries to the Treasury". Te Tai Ōhanga – The Treasury.
- 1 2 McKinnon, Malcolm. "Noel Lough and Henry Lang". Te Ara – the Encyclopedia of New Zealand.
- 1 2 3 4 5 6 McKinnon, Malcolm (2003). The Treasury: The New Zealand Treasury 1840–2000. Auckland: Auckland University Press. pp. 240–275. ISBN 978-1869402969.
- ↑ "No. 1". New Zealand Gazette. 10 January 1946. p. 17.
- ↑ "No. 16" (PDF). New Zealand Gazette. 20 January 1972. p. 121.
- ↑ "New Zealand – Public Documents" (PDF). World Bank Group Archives.
- ↑ "Past Presidents". New Zealand Association of Economists.
- 1 2 3 McAloon, Jim (2010). Robert Muldoon and the New Zealand economic crisis, 1975–84. Victoria University of Wellington.
- 1 2 McKinnon, Malcolm. "Treasury: Post-war economic policy". Te Ara – the Encyclopedia of New Zealand.
- ↑ Scott, Graham (2013). "Reflections on Economic Reform in New Zealand". Victoria Economic Commentaries, Victoria University of Wellington.
- 1 2 3 4 Department of Foreign Affairs and Trade and Ministry of Foreign Affairs and Trade (2003). The Negotiation of the Australia New Zealand Closer Economic Relations Trade Agreement 1983. Canberra: Department of Foreign Affairs and Trade. pp. 47–52. ISBN 978-1-876534-16-5.
- ↑ "New Zealand Planning Council members 1977". National Library of New Zealand. Retrieved 13 September 2026.
- ↑ Lough, Noel (1990). Today's Schools: A Review of the Education Reform Implementation Process. Wellington: State Services Commission. ISBN 978-0477014885.
- ↑ "Noel Lough Obituary". The New Zealand Herald. 9 February 2011.
- ↑ "No. 2". New Zealand Gazette. 16 January 1981. p. 73.
External links
[edit]Category:1920 births Category:2011 deaths Category:People from Wellington City Category:Companions of the Order of St Michael and St George Category:Victoria University of Wellington alumni Category:New Zealand economists Category:20th-century New Zealand public servants