PETER COSTELLO - PROFILE
Peter Costello is Chairman of ECG Financial Pty Ltd, a boutique corporate advisory firm, headquartered in Melbourne.
Peter Costello was elected a Member of the Australian House of Representatives for the seat of Higgins in March 1990 and re-elected on six subsequent occasions.
Prior to entering Parliament, he was a barrister and was counsel in some of Australia's best-known industrial diputes.
Mr Costello was elected Deputy Leader of the Liberal Party of Australia in May 1994 and served in that post to November 2007.
He was Treasurer of the Commonwealth of Australia from 11 March 1996 to 3 December 2007, the longest serving Treasurer in Australia’s history.
Peter Costello brought down twelve consecutive Federal Budgets, including ten surpluses. During that period he eliminated Commonwealth Government debt in net terms.
Australia's credit rating was upgraded twice to AAA.
Peter Costello introduced the largest tax reform in Australian history called: A New Tax System, which introduced GST, abolished seven taxes and reduced income, capital gains and company taxes.
During his time as Treasurer he:
- Re-designed financial supervision and established new prudential and consumer regulators
- Reformed and modernised Corporations law
- Established the Takeovers Panel to hear disputes over mergers and acquisitions
- Introduced the largest reform of superannuation taxation with the abolition of tax on superannuation payouts for those over 60
Since leaving Parliament in 2009 Mr Costello has served as Chairman of the Independent Advisory Board to the World Bank in Washington.
He is a Director of the Nine Entertainment Corporation.
He is Chairman of the Future Fund now holding over $100 billion in assets.
In January 2011 he was made a Companion (AC) in the Order of Australia.
He has written a best-selling memoir published in 2008 by Melbourne University Press.
Peter is married to Tanya and they have three children.
Peter holds degrees from Monash University BA, LLB (Hons), LLD (Honoris Causa) where he was, for a time, a part-time teacher in law and economics/politics, as well as a member of the University Council.
Peter Costello describes his favourite activity as cooking on the barbeque at home (badly) and following his beloved football team (passionately).
Peter Costello in The Spectator
7th Annual Meeting of International Forum of Sovereign Wealth Funds
Peter Costello speaks at 7th Annual Meeting of International Forum of Sovereign Wealth Funds
We have a duty to ask the tough questions
Peter Costello in the Herald Sun