Hon Peter Costello AC
Peter Costello is the Chairman of Australia's Future Fund and Chairman of ECG Financial Pty Ltd, a boutique financial advisor.
A former barrister and counsel in some of Australia's best-known industrial disputes, he was first elected a Member of the House of Representatives for the seat of Higgins in March 1990 and subsequently re-elected on six occasions. The Deputy Leader of the Liberal Party of Australia from 1994 to 2007 and the Treasurer of the Commonwealth of Australia from 1996 to 2007, he is the longest serving Treasurer in our nation's history.
Peter Costello brought down 12 consecutive Federal Budgets, including 10 surpluses. During his period as Treasurer, Australia's sovereign rating was upgraded twice to its current AAA level and he eliminated the Commonwealth Government net debt of $96 billion.
He introduced the largest tax reform in Australian history, which introduced GST, abolished seven taxes and reduced income, capital gains and company taxes. He set up Australia's system of financial regulation with the Australian Securities and Investments Commission, and Australian Prudential Regulatory Authority established in 1998, and the Financial Services Reform Act of 2001.
He co-authored best-selling book The Costello Memoirs with his father-in-law, Peter Coleman (Melbourne University Press, 2008). In 2009 he was appointed a Guardian to Australia's Future Fund, and in 2011 he was made a Companion in the Order of Australia. He is currently a Member of the Independent Advisory Board to the World Bank in Washington.
He has served as a Governor of the World Bank, the Asian Development Bank, a member of the Committee of the International Monetary Fund, Chairman of the OECD and the APEC Finance Ministers Forum. He has been Chairman of the G20 Finance Ministers and Central Bank Governors. Peter has been a columnist for Australia's Fairfax and News Limited papers and has been published in various international papers and journals. He has a Bachelor of Arts, a Bachelor of Laws (with Honours) and a Doctor of Laws (Honoris Causa) from Monash University.
Peter Costello travels from Victoria Australia
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