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The Forum > General Discussion > Bring Back Peter Costello!

Bring Back Peter Costello!

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I read an interesting opinion piece in the Sydney
Morning Herald written in April 2018 - "Could
Costello save the Coalition in 2019?"

The article is worth a read and points out some
interesting issues such as the fact that Turnbull's
position on social issues are often derided by
Conservatives as being "trendy." Whereas Costello's
are respected because they derive from the same set
of classical values that made him an advocate for
small government.

The opinion piece then asks "Would these positive
feelings be reproduced in the electorate at large?
It's hard to say - but certainly a Costello Government
would benefit from any undercurrent of nostalgia for
the days when politics was run by grownups."

What is valid is the point being made that the PMs
position seems to rely to a large extent on the absence
of a plausible replacement. We're told that would change
instantly if Peter Costello made himself available.
And if anybody can reunite Conservatives in Australia and make
them election ready, it is Costello.

After all - he would still be remembered as the Treasurer
who delivered 10 surpluses and eliminated net debt.

Your opinions please.
Posted by Foxy, Sunday, 5 August 2018 11:48:06 AM
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Sorry the man is my nightmare, he after the fairfax merger, is to be in change of nine,this very day free to air TV gained Sky News, the death of honest journalism is for me a truth we can no longer avoid,we had the economy rolling under him, the huge export of minerals helped give him that, but I want to live in a country that has concerns for those in true need affordable housing both rental and buying not negative gearing for investors,an end to bashing welfare recipients and cuts to health education my list is long
Posted by Belly, Sunday, 5 August 2018 1:59:49 PM
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Dear Belly,

I think that Peter Costello would be a more acceptable
leader for the Conservative side of politics. He
unlike Turnbull will be more able to enunciate the values
that define them. the values of the Liberal Party -
like individual dignity, self-reliance, national sovereignty,
personal liberty - are all highly relevant. And these values
resonate with those party members. I'm sure that there is
an eager audience ready to listen to a man who will have
the courage to address their concerns.

Also I think that Costello can communicate the values that
motivate a party's political approach to the issues of the
day, and convince voters this will improve their lot and
improve the fortunes of those they care about. Costello is
in a better position to do that than Turnbull. Who many
Conservatives find far too "trendy."

But of course, I could be wrong.
Posted by Foxy, Sunday, 5 August 2018 2:19:56 PM
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Yes Foxy, Costello was the logical progression, & would have done a great job, but he probably decided he was not interested in spending 6 or 9 years in opposition for Labor to be in power when Rudd was elected. Obviously no one knew what a shambles Labor were going to make of the job. He probably would have beaten Gillard.

He is probably earning far too much money now to be prepared to come back, & I am not sure he would want to lead the bunch Turnbull has now got in the senior positions.

An interesting thought, & probably about the only one who could sort out the current mess, but I doubt we could lure him back.

Howards 2 big mistakes, our gun laws, & not passing the leaders baton to Costello when he should have.
Posted by Hasbeen, Sunday, 5 August 2018 2:25:02 PM
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Dear Hassie,

Well, I guess we will have to wait and see.
If we can think of Peter Costello - surely
some of his party members could at least make
him the offer? I don't see any other plausible
replacement.
Posted by Foxy, Sunday, 5 August 2018 3:23:34 PM
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Dear Foxy,

«the values of the Liberal Party - like individual dignity, self-reliance, national sovereignty, personal liberty - are all highly relevant.»

Wow, then he gets three out of four from me!

You seem to have good connections with this Peter and you say that he stands for personal liberty - can you please ask him whether this is true, whether indeed, if elected, he would allow me to ride a bicycle without having to wear a pot over my head?

Also, whether he will allow Australians to take up a TRULY PRIVATE health insurance cover, as agreed between individuals and their health-insurers without involving Medicare in any way?

Will he allow people to practice a profession without having to obtain a state-approved accreditation (when obviously not falsely claiming to have one), so then it is only a private matter between client and practitioner whether various services are provided?

Sounds too good to be true, but do find out please - he could even get my vote...
Posted by Yuyutsu, Sunday, 5 August 2018 5:01:34 PM
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Dear Yuyutsu,

Firstly - the man has to agree to challenge the current
leadership. Otherwise this is all mute.

However, if he does agree to challenge - I shall be more
than happy to provide you with his email - and you can
ask all your questions then.
Posted by Foxy, Sunday, 5 August 2018 5:05:26 PM
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Back in 2010 (before the election) I thought Costello was a competent economic manager, unlike anyone else left in the Liberal Party. But since then I've revised my opinion. Having seen an interview with him on Lateline, it's clear he's as clueless as the rest of them; he was just lucky!
Posted by Aidan, Sunday, 5 August 2018 6:15:39 PM
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Dear Aidan,

Have you read "The Costello Memoirs?"

It's worth a read.
Posted by Foxy, Sunday, 5 August 2018 6:29:53 PM
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Bring back Costello, as long as Abbott don't come with him.

Abbott and Costello. could be and improvement on the Three Stooges running the show at the moment.

Hi Foxy,

I think at times we overstate the effect government has on the economy. Any poly worth his salt will take the accolades when things are running well, but play the blame game if things go pear-shaped
Posted by Paul1405, Monday, 6 August 2018 7:11:17 AM
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Dear Paul,

Check this out:

http://www.theguardian.com/australia-newss/commentisfree/2018/apr/10/malcolm-turnbull-didnt-walk-away-from-his-beliefs-because-he-never-had-any

It sums things up rather well.
Posted by Foxy, Monday, 6 August 2018 10:07:35 AM
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cont'd ...

I'll try again:

http://www.theguardian.com/australia-news/commentisfree/2018/apr/10/malcolm-turnbull-didnt-walk-away-from-his-beliefs-because-he-never-had-any
Posted by Foxy, Monday, 6 August 2018 10:11:22 AM
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The Costello success story is largely a myth.
His and Howard's legacy was one of lost opportunities, a lot of luck and a compliant media.

Our economy was rated at the 6th best in the world when he came into office but had fallen to 20th by the time he left.

The main failures include -
The sale of productive, cash generating public assets.
The failure to invest in infrastructure.
The decision not to increase Superannuation that had been planned, the effects becoming more obvious now.
The fire-sale of our gold reserves, netting $2.4billion at the time but later worth $7.4billion during the GFC.
The loss of $4.5billion gambling on foreign exchange rates.
The squandering of the proceeds of asset sales and the vast rivers of revenue from booming industries by handing it out to middle and high income earners as election bribes.

According to a Treasury report in 2008, between 2004 and 2007, the mining boom and a robust economy added $334 billion in windfall gains to the budget surplus. Of this, the Howard Government spent, or gave away in tax cuts, $314 billion, or 94 per cent.

Privatisation yielded another $72 billion.

And yet Australia’s cash in the bank when Howard left office was a pathetically low 7.3% of GDP with nothing to show for all that money.

Everyone talks about the alleged surplus left behind.

There was indeed a surplus in the last Budget (largely outstanding HECS debt) but by the time of the November election, most had been spent on electoral bribes in a desperate attempt to get re-elected.

On a political level he was too gutless to challenge Howard when he had the chance and Treasury labelled him as lazy and light on policy and he left all the heavy lifting to Public Servants.

He could never have gotten us through the GFC that followed because the only "weapon" the Liberals have is tax cuts and trickle-down economics.
Posted by rache, Tuesday, 7 August 2018 1:49:09 AM
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I'd like to Thank everyone for their contributions to
this discussion - but for me it's now run it's course.
We'll have to wait and see what develops prior to the
election. I very much doubt if things will change -
but who knows?

It will be up to the voters to decide in which direction
the country should go. We can only hope that this time
they will get it right.
Posted by Foxy, Tuesday, 7 August 2018 10:58:05 AM
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rache,
>The loss of $4.5billion gambling on foreign exchange rates.
I don't think I knew about that one. When, how and why was it done?

>The fire-sale of our gold reserves, netting $2.4billion at the time but later worth $7.4billion during the GFC.
It was hardly a fire sale. They simply weren't needed any more, and without the benefit of hindsight there was no reason to suppose the price would go any higher.

____________________________________________________________________________________

Foxy,
No, I haven't read the Costello Memoirs. I haven't finished reading the Hawke Memoirs yet.

Why is it worth a read? Costello doesn't seem to have done anything very interesting!
Posted by Aidan, Tuesday, 7 August 2018 12:46:14 PM
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Dear Aidan,

I found it interesting to get his version of events -
and it gave me a very different insight into the
man - than the one presented in the media. I ended up
quite liking him - whereas previously - I admit I
thought he was your typical party hack. It just goes
to show the importance of not making judgements until
we learn more about a person.
Posted by Foxy, Tuesday, 7 August 2018 1:04:24 PM
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Aidan -
Here are a couple of references about the Exchange Rate gamble losses -

https://www.theage.com.au/opinion/a-treasurer-with-a-3-8b-gambling-problem-20020225-gdtzwh.html

https://www.theage.com.au/opinion/we-want-the-truth-about-the-currency-losses-20030724-gdw3in.html

Strangely, the rest of the media didn't make much of a fuss about it, probably because they were obsessed with the deficit, but I can only imagine the noise if it was a Labor treasurer.

There were several other blunders as well, such as $1 billion lost on a failed IT upgrade of the Public Service.
Posted by rache, Wednesday, 8 August 2018 1:15:57 AM
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Hi Foxy,

To me Peter Costello was an integral part of the regressive Howard Government. I see him as a 'yesterdays man' with no place in Australian politics today. His brother Tim Costello would be a better choice for PM, at least he's got compassion for people, but he's not my choice either.
Posted by Paul1405, Wednesday, 8 August 2018 7:32:54 AM
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Hi Foxy,

Just a catch up, my very good friend will be making her maiden speech in the Senate 21st August, about 5pm. We have friends in Canberra so hope to be there for the event, and for the get together that night. I wished her well this morning. She is looking forward to the task ahead, and her time in the NSW parliament I'm sure has been of great beneficial experience for her Senate duties. We are all excited with this.
Posted by Paul1405, Wednesday, 8 August 2018 8:09:13 AM
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Dear Paul,

I hope that you have an interesting time in Canberra.
And no wonder you're excited - seeing your friend
speak would be a great experience.

As for Peter Costello - I like him. But then I liked
Malcolm Turnbull once as well. Not any more. So
I'm probably not a good judge as to who's going to make
a good PM.

Dear rache,

Thanks for all your comments.

I love reading your posts.
Posted by Foxy, Wednesday, 8 August 2018 11:11:15 AM
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If Costello is as genuine about the future of Australia he would accept being contender for PM without hesitation. If the money he is on now is more important than it'd be better if he stayed away.
Posted by individual, Wednesday, 8 August 2018 6:38:59 PM
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Dear Indy,

We'll never know if the Party doesn't ask him.
Posted by Foxy, Wednesday, 8 August 2018 6:53:05 PM
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