World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Peter Costello Won't Stand For Liberal Leadership


Australia Votes 2007: Outgoing treasurer will not stand for Liberal leadership

Speaking in Melbourne yesterday, outgoing Australian treasurer - Peter Costello made a shock announcement that he will not stand for leadership of the Liberal party following the Howard government's crushing defeat in Saturday's election. Mr Costello had been touted by outgoing Prime Minister John Howard as his likely successor.

It is believed that Mr Costello had long dreamed of becoming Prime Minister. The Sydney Morning Herald reports that Mr Costello "looked strained" and that "tears appeared to brim in his eyes" as he made his announcement.

Mr Costello said he would serve out his three year term as member for Higgins on the backbench, mentoring the up and coming members of the Liberal party before moving on to a career in the private sector.

"The time has come for me to open a new chapter in my life. I will be looking to build a career, post-politics, in the commercial world," he said. "As a consequence of that, I will not seek, nor will I accept, the leadership or deputy leadership of the Liberal Party."

The outgoing treasurer said he believed it was time for young members of the party to have an opportunity to advance the party.

"I do believe that it is time for the young people of talent and ability - of whom there are many - to be given their go in the Liberal Party," he said. "Just as I was given my go in the early 1990s, I think it's time for them to have their go."

Malcolm Turnbull has so far been the only Liberal member to indicate his intentions to run for leadership of the Liberal party. "I will be a candidate for the leadership of the Liberal Party at the next party meeting," he said.

"I will deliver, if elected to the leadership of the Liberal Party, the energy and the drive and the determination to win and the commitment to deliver new ideas, new policies, new agendas for the advancement of our country."

ENDS

More: Latest World News | Top World News | World Digest | Archives

© Scoop Media

 
 
 
World Headlines

 

Gordon Campbell: Zimbabwe - Meet The New Bosses

At 75, Mnangagwa is not exactly what you’d call a new broom. As many observers have pointed out, his track record has been one of unswerving dedication to Mugabe ever since the days of anti-colonial insurgency... To these guys, things had to change in Zimbabwe, so that things could remain the same. More>>

ALSO:

Gordon Campbell: Is This Guy The World’s Most Dangerous Thirtysomething?

Saudi Arabia has long been regarded as a pillar of stability in the Middle East, and is the essential caterer to the West’s fossil fuel needs. It is also the country that gave us Osama Bin Laden, al Qaeda, and 15 of the 19 terrorists who carried out the 9/11 attacks... More>>

ALSO:

Non-Binding Postal Vote: Australia Says Yes To Same Sex Marriage

Binoy Kampmark: Out of 150 federal seats, 133 registered affirmative totals in returning their response to the question “Should the law be changed to allow same-sex couples to marry?”. More>>

ALSO:

Bonn Climate Change Conference: Protecting Health In Small Island States

The vision is that, by 2030, all Small Island Developing States will have health systems that are resilient to climate change and countries around the world will be reducing their carbon emissions both to protect the most vulnerable from climate risks and deliver large health benefits in carbon-emitting countries. More>>

ALSO:

 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC