Andrew Leigh (Fraser, Australian Labor Party) Share this | Hansard source

Indeed. But he delayed it because he faced considerable opposition within caucus, particularly from Eddie Ward, and he eventually pushed back. As David Day writes:

Chifley had a vision of a postwar Australia that would put the 1930’s depression behind it forever. It would be an outward looking country engaged with the world through trade, diplomacy and economic aid.

After his caucus colleagues supported the Bretton Woods agreement—though only by 33 votes to 24—Chifley told this House:

Perhaps the experiment will fair. But no country which has any regard for the cause of humanity can, for some selfish reason or because some ghosts of the past happen to walk or because of fears created by their experience of a financial and economic depression, refuse to become parties to this agreement. If we have any love for mankind and desire to free future generations from the terrible happenings of the last 30 years, we must put our faith in these organisations.

Australia has done that. The ninth World Bank president—and one of its most successful—was Australian-born James Wolfensohn, who served from 1995 to 2005. More broadly, Australia as a nation has been a consistent supporter of the work of the multilateral banks. As the bank modernises, so must our policy response. We owe nothing less to the world’s poorest.

See this speech in context