Costello Calls It Quits.

“Everybody Mr Costello has left the building.”
Well not quite but he will be very soon. Peter Costello has announced today that he will not be renominating for the next Federal election.

The announcement drew praise from both sides of the house, something not often felt by Mr Costello before.

During question time Prime Minister Kevin Rudd said it was an important day for Mr Costello. “It should be marked appropriately,” he told Parliament, praising the former treasurer for his significant role in the formation of the G20 finance ministers group. He also acknowledged Mr Costello’s role in addressing the Asian financial crisis, adding it had helped Australia’s relationships with its neighbours. Mr Rudd also described these achievements as being correct decisions in the national interest.

Peter Costello leaves after 20 years in Federal Parliament, 11 of those as Federal Treasurer.

As Mr Costello’s career in parliament draws to a close the Federal Opposition Leader Malcolm Turnbull breathes a sigh of relief. No longer will the specter of a leadership challenge from Mr Costello be a threat to him.
Maybe now the Australian Liberal Party can get on with preparing for the next federal elections without the worry of leadership instability and put up a reasonable campaign.

In the meantime I am sure most people would wish Mr Costello well in his future post on the International Advisory Board of the World Bank.

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