schedule. The radical 1980s reforms In 1984, the Fourth Labour Government, led by David Lange, was elected amid a constitutional and economic crisis. The crisis led the incoming government to review New Zealand's constitutional structures, which resulted in the Constitution Act 1986. In power from 1984 to 1990, the Labour government launched a major programme of restructuring the economy, radically reducing the role of government. A political scientist reports: Between 1984 and 1993, New Zealand underwent radical economic reform, moving from what had probably been the most protected, regulated and state-dominated system of any capitalist democracy to an extreme position at the open, competitive, free-market end of the spectrum. The economic reforms were led by Roger Douglas, finance minister from 1984 to 1988. Dubbed Rogernomics, it was a rapid programme of deregulation and public-asset sales. Subsidies to farmers and consumers were phased out. High finance was partly deregulated. Restrictions on foreign exchange were relaxed and the dollar was allowed to float and seek its natural level on the world market. The tax on high incomes was cut in half from 65% to 33%. The shares exchange entered a bubble, which then burst, with the total value of shares falling from $50 billion in 1987 to $15 billion in 1991; at one point the crash was "the worst in world". Economic growth fell from 2% a year to 1%. Douglas's reforms resembled the contemporaneous policies of Margaret Thatcher in Britain and Ronald Reagan in the United States. Strong criticism of Rogernomics came from the left, especially from Labour's traditional trade union support-base; Lange broke with Douglas's policies in 1987; both men were forced out and Labour was in confusion. In keeping with the mood of the 1980s the government sponsored liberal policies and initiatives in a number of social areas; this included Homosexual Law Reform, the introduction of 'no-fault divorce', reduction in the gender pay gap and the drafting of a Bill of Rights. Immigration policy was liberalised, allowing an influx of immigrants from Asia; previously most immigrants to New Zealand had been European and especially British. The Treaty of Waitangi Amendment Act 1985 enabled the Waitangi Tribunal to investigate claims of breaches of the Treaty of Waitangi going back to 1840, and to settle grievances. The Fourth Labour Government revolutionised New Zealand's foreign policy, making the country a nuclear-free zone and effectively withdrawing from the ANZUS alliance. The French intelligence