Costello To Quit Politics; Will Not Seek Or Accept Liberal Leadership

Nov 25, 2007

The Treasurer in the defeated coalition government, Peter Costello, has announced that he “will not seek and will not accept” the leadership or deputy leadership of the Liberal Party.

Speaking at a press conference in Melbourne, Costello said: “I will continue to serve my constituents and in serving my constituents I hope that I will have a role to play perhaps mentoring some of the newer MPs.” Significantly, he did not commit to serving the full three years of the term he was elected to yesterday.

Costello said he “will be looking to build a career post-politics in the commercial world”.

Costello has been deputy leader of the Liberal Party since May 23, 1994. He was been Treasurer since the Howard government was elected in 1996. His decision to vacate the field will likely lead to a contest between outgoing ministers such as Malcolm Turnbull, Brendan Nelson, Tony Abbott, Joe Hockey and Julie Bishop. [Read more...]

Filed Under: 2007 Federal Election, Audio, Howard Government, Liberal Party Tagged With: , , , , , ,

Costello To Quit Politics; Won’t Seek Leadership

Nov 25, 2007

Nov 25 – 12.45pm – The outgoing Treasurer, Peter Costello, has announced that he will not seek the leadership of the Liberal Party following its defeat at yesterday’s election.

Costello said he would serve out his three-year term as the member for Higgins and would leave politics at the next election.

Adapting the words of former United States President Lyndon Johnson, Costello said: “I will not seek and I will not accept the leadership of the Liberal Party.”

Can Turnbull Snatch The Prize?

Nov 25 – 1.00pm – Political attention will now focus on whether the member for Wentworth, Malcolm Turnbull, can secure the leadership of the Federal Liberal Party.

Turnbull won a second term in the House of Representatives at yesterday’s election, withstanding a concerted attempt to unseat him. He nearly won the seat on primary votes.

Other likely contenders for the leadership are Brendan Nelson and Joe Hockey. Alexander Downer will also be called on to make his intentions clear. Julie Bishop could be a contender but is more likely to seek the deputy’s position.

Nightmare For Liberal Party Worsens, Or Does It?

Nov 25 – 1.15pm – Whilst some will see Peter Costello’s departure as a worsening nightmare for the Liberal Party, following its defeat in yesterday’s election, the decision also represents an opportunity to move to a new generation of leadership untainted by the Howard-Costello years.

Conversely, the decision by Costello robs his party of a strong parliamentary performer with experience in government.

For Kevin Rudd, the development represents a stunning defeat of his two major opponents in the coalition government.

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Filed Under: 2007 Federal Election, Howard Government, Liberal Party Tagged With: , , , , , , , , ,

Costello Hints At Benefits Of Deputies Taking On The Top Job

Aug 12, 2005

Peter Costello, Deputy Leader of the Liberal Party and Member for HigginsThe Treasurer, Peter Costello, says that the elevation of a deputy leader to the leader’s position allows a government to regenerate and pursue new policy directions.

Launching a biography by Tom Frame of former Prime Minister Harold Holt, Costello said “when Holt became Prime Minister the Government had the opportunity to reconsider options that had previously been considered and rejected.”

After 10 years as deputy, Holt became Liberal Party leader and Prime Minister in January 1966, following the retirement of Sir Robert Menzies who had held the office for 16 years. He disappeared in the surf at Portsea on December 19, 1967. [Read more...]

Filed Under: Howard Government, Liberal Party, Political History Tagged With: , , , , , ,