Bury was appointed Minister for Air and Minister assisting the Treasurer in Robert Menzies' ninth ministry in December 1961. On 27 July 1962 he was sacked for speaking in favour of the accession of the United Kingdom to the European Economic Community, saying that "European integration, of which the Common Market is an essential expression, is a keystone of the grand design for Western survival". This strongly conflicted with Deputy Prime Minister John McEwen's concerns over its impact on Australian exports to the United Kingdom.[6] In December 1963, he returned to cabinet as Minister for Housing. He introduced the First Home Owners Grant, which continues to be a feature of the Australian political landscape.[4]
After Holt's disappearance in December 1966, Bury was one of four candidates to contest the Liberal leadership ballot, along with John Gorton, Paul Hasluck, and Billy Snedden. He had some support within the party, including from Peter Howson, and was reportedly Menzies' second most preferred candidate after Hasluck. According to Graham Freudenberg much of his support was due to his status as the only candidate from New South Wales.[7] However, he was virtually unknown among the general public and was not seen as a strong television performer. Bury polled an estimated 16 votes (out of 81) on the first ballot, ahead of only Snedden. Both were eliminated and Gorton went on to defeat Hasluck in the final ballot.[8]
Gorton government
Bury in 1967
Bury remained Minister for Labour and National Service in the first Gorton ministry. With Phillip Lynch as Minister for the Army, a slogan chanted at anti-war protests was "lynch Bury and bury Lynch". After the 1969 federal election, Bury was promoted to treasurer, his most desired portfolio. His promotion was probably due to his support for Gorton in the 1969 leadership spill, which saw then-treasurer William McMahon challenge for the prime ministership. McMahon was shifted to foreign affairs and Bury took his place as treasurer. Gorton also reputedly viewed Bury as someone who was likely to be compliant and not challenge his own economic agenda.[7]
Bury presented only a single budget as treasurer, for 1970–71. It was described as "very much a Treasury-inspired document", and also had significant input from Gorton.[9] He was one of the pioneers of the forward estimates system, in March 1971 asking ministers to provide estimates of expenditure for future activities.[10] He was an advocate of alternative measures of economic progress, stating "we must not fall too readily to exclusive worship at the altar of GNP [...] our prime concern should always be the social welfare of the community as a whole". He was also an early supporter of a broad-based national consumption tax, akin to the current GST.[11]
There were concerns about Bury's health during his period as treasurer, with one source describing him as "a worn-out and a tired man, suffering from ill-health and lacking concentration". He suffered from coronary arteriosclerosis and hypertension.[7] Bury's departmental secretary Dick Randall stated that, from Treasury's perspective, he "lost too many cabinet fights". He came into conflict with the more experienced figures of Gorton, McEwen, and McMahon who were not always in agreement with the departmental agenda.[9] He opposed the creation of the Australian Industry Development Corporation, preferring the use of foreign capital, but was overridden by McEwen and Gorton.[10]
In his first statement as foreign minister, Bury "stressed the paramount importance of Asia to Australia", reiterated Australian support for the Nixon Doctrine, warning against complacency over the Soviet naval presence in the Indian Ocean, and called on Japan to play a greater role in regional affairs.[13] In June 1971 he publicly denounced French nuclear testing in the South Pacific, stating they were "a matter of considerable regret to the government of Australia" and stated he supported a Comprehensive Nuclear-Test-Ban Treaty.[14]
Australian relations with China were a major aspect of Bury's period as foreign minister. In May 1971, he stated that Taiwan should be separately represented in the United Nations and that the Republic of China's claims to Mainland China were "somewhat fictional".[15] After the announcement of Nixon's visit to China in July 1971, he reaffirmed the Australian government's long-standing policy of non-recognition of the People's Republic of China and stated that he would not visit Beijing, but suggested Australia might formalise relations with the PRC at a later point.[16] His stance on China angered the anti-communist Democratic Labor Party.[17]
Bury was abruptly removed from cabinet in a reshuffle on 2 August 1971.[12] The statement released by McMahon stated that Bury had resigned, however Bury confirmed that he had in fact been dismissed and "denied suffering any ill health necessitating his removal from office",[18] a response to rumours about health issues circulated by McMahon.[1] When questioned by reporters McMahon refused to provide a reason for Bury's removal.[19] Bury was publicly critical of the McMahon government in the immediate aftermath of his dismissal, stating that cabinet ministers had been "leaking like a sieve".[20] He disapproved of the 1971–72 budget, stating that personal income tax rates were too high and were acting as a disincentive. He reiterated his calls for a broad-based retail turnover tax and also supported a national superannuation scheme.[21]
Bury was re-elected at the 1972 election, which saw the defeat of the Coalition government. He was not included in the shadow ministry formed by new Liberal leader Billy Snedden and remained in parliament as a backbencher.[12] In December 1973, Bury was defeated for Liberal preselection by Bob Ellicott, in a vote which included 17 candidates and required six ballots.[22] He retired from parliament at the 1974 election.[12]
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