Among a number of controversial policies, Olsen's government undertook the privatisation of the state-owned electricity industry (ETSA), partly to improve the government's parlous financial situation due to the State Bank disaster and partly in response to the introduction of the Australian National Electricity Market, despite promising not to do so at the 1997 election. The fiscal arguments for privatisation were vigorously criticised by a number of economists. Sharp increases in the retail price of electricity, a consequence of the working of the National Electricity Market, contributed to the growing unpopularity of the government.