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Peter_Costello

The Hon. Peter Costello AC

Australia's longest-serving Treasurer

  • Peter Costello served as Treasurer of the Commonwealth of Australia for just under 12 years from March 1996 to December 2007.

  • He delivered twelve federal budgets including ten surpluses. During this period Australia’s Sovereign Credit Rating was updated twice to its current AAA rating.

  • In 2006, after Government debt was eliminated in net terms, Mr Costello established the Australian Future Fund. From its original deposit, the Future Fund has grown to hold around $160 billion in assets. Mr Costello has served on the IMF Committee, as a World Bank Governor and Chairman of the Global Group of 20 Finance Ministers & Central Bankers (G-20). After leaving politics in 2009, Mr Costello joined a number of international and domestic boards including the Independent Advisory Board to the World Bank which he Chaired.

  • Peter is currently Chairman of the Future Fund. He is also Chairman of the Nine Entertainment Corporation.
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