Wizards of Ozterity

I was listening the other day to the various austerity measures being proposed across Europe: university fees to be introduced in Ireland, an increase in the retirement age and proposals for new taxes in various countries.  And then it struck me - we've already had all of these in Australia.  We in the lucky country have apparently been living in austerity for years.  That's obviously what the "Aus" part of the name stands for.