The former politician, Peter Costello is living quite a blissful married life with his wife and three children with no rumors of disputes and divorce as of 2018. Currently, Peter Costello age is 61 and stands at a tall height of 1.93m. We collect and match historical records that Ancestry users have contributed to their family trees to create each person's profile. It was the institution of monarchy that was the crux of his argument for change: The Liberal/National coalition headed by Howard won the 1996 election, defeating the Keating government on a 29-seat swing, and Costello became Federal Treasurer at age 38, the same age at which Howard himself had become treasurer in 1977. Peter's annual salary is between $40 - 49,999; properties and other assets push Peter's net worth over $50,000 - $99,999. Peter Costellos brother named Tim Costello (eldest) is aprominent Baptist minister. [31] Also during the same speech, Costello criticised "mushy misguided multiculturalism," warning immigrants that the acceptance of Australian values was "not optional."[32]. Also learn how He earned most of networth at the age of 63 years old? Vincent Costello Expand search. He is the longest-serving Treasurer in Australia's history. The ancestor who gave Peter Costello that smirk. After trying to engage with him at first which clearly didnt work Ive ignored almost all of it, Chessell said in a note to staff at The Age and Herald. Peter Costello; . In an assault on Australia's economic performance, former Liberal treasurer Peter Costello warns the nation confronts a hefty expansion in the reach of government, permanent high debt, surrender in the struggle for a budget surplus and a central bank beguiled into abnormal monetary policy. "The fastest growing area of government expenditure now is interest on debt. Share your family tree and photos with the people you know and love. What is the current phone number for Peter B Costello? Peter was born in Syracuse to the late John & Mary Grace Costello on January 21, 1949. Add Peter's family friends, and his friends from childhood through adulthood. Nine chairman Peter Costello.James Brickwood Costello joined the board of Nine in 2013. Finally, Costello offered some advice for what should be on the agenda of the federal Liberal Party, now that it's in opposition. However, Downer resigned in January 1995. The government's subsequent success in winning control of the Senate raised further speculation that Howard would delay his retirement, and the prospect of a Costello leadership succession appeared to recede. Fifty-nine per cent agreed, while 41 per cent disagreed. "The government can ask for it back, it can legislate what's called a clawback," he said. Professor Bankier asks. You have entered an incorrect email address! Moreover, the former politician, Peter Costello net worth in 2018 is$23.5 Million according to some source. Adding to the enigma of the expression, Tim said he had it when he was young, while Peter developed it over time. He also served as the Deputy Leader of the Liberal Party from 1994 to 2007. And it's estimated something like $27 billion was paid to companies who in fact weren't qualified to receive it.". Not too long ago, the rumors of the Peter Costello political comeback grew louder, however, he clearly said that he has no interest inreturning to parliament. "And then moving on to the new agenda, which is going to be productivity. For a time, he was an office-bearer of the Social Democratic Students Association of Victoria, an affiliate of the Balaclava Branch of Australian Young Labor. Peter has many family members and associates who include Michael Costello, Ian Costello, Gregory Craddock, Agnes Bradshaw and Ralph Baughan. When this did not eventuate, it is alleged that Costello became frustrated, particularly when Howard announced, in July 2003, his intention to lead the government into the 2004 election. After the "sports rorts affair" with Sport Minister Ros Kelly: after revealing Kelly did not handle funding properly for the policy, Hewson and Costello demanded she resign, and she did, this and other factors made Costello be seen as alternative leader to Hewson. He was convicted of leading a gang who impersonated voters at a byelection in Mornington. "There were a lot of companies that said, 'oh, well, we think we're going to go down by 30 or 50 per cent [in revenue], they self-assessed and got the government payment," Costello said. Packers email circle includes American film producer Brett Ratner, investment banker and corporate adviser Matthew Grounds, Nine personalities Karl Stefanovic and Peter FitzSimons and executives, broadcasters and journalists across rival commercial networks. Times have changed and times are strange. In response, the actress' Port Charles fam reacted well, much the same way that we did. Between the Lines puts contemporary issues into a broader context, seeking new perspectives and challenging accepted wisdoms. The stimulus came for 2020 and COVID. Peter Pierce Costello son James "Jim Costello son Mary Josephine "Minnie" Costello daughter George Thomas Costello son Michael J Costello son Sgt John Costello son Mary Kennedy mother John Costelloe, MR father Catherine Costelloe sister Margaret Costelloe sister About Pierce Peter Costello, Free Settler "Fitzjames" 1857 GEDCOM Source He is from Australian. Which memorial do you think is a duplicate of Peter Costello (68163005)? Tony Abbott Net Worth 2023, Age, Height, Wikipedia, Wife, Top 6 Foreign Celebrities Who Own a Home in Australia, 4 Conditions When You Need To Show Your Paystub Or Prove, Richard Montanez Wiki, Biography, Age, Height, Married, Wife, Net Worth 2021, Peter Costello told that the governmentsabandoned. He was born in Halifax, West Yorkshire. Saint Phillips Cemetery. [20], Hewson noted with irony in 2009 that Costello's best chances of becoming leader were at the 1994 leadership spill or when Downer stood down, several months later.[21]. NEC today reported a $36.4 million decline in first half revenue to $690.3 million and a 6 per cent drop in net profit . But he does have the dirt to make him look bad, and he's throwing it. Explore Peter Costello Net Worth & Abbie Chatfield and Yung Gravy Dating, Spotted Enjoying a Night, Who Is J Prince Wife Mary Prince, Are J Prince and, Nick Kyrgios Spared Penalty After Pleading Guilty to Assault Charge Against. Without any further delay check out his personal life including Peter Costello age, height, and married life with his wife along with Peter Costello wiki bio and net worth updates. Dismiss. The tax rate on earnings from superannuation balances above $3 million will double to 30% from 2025-26.. Costello was educated at Carey Baptist Grammar School and Monash University, where he studied arts and law, graduating with honours in 1982. Research genealogy for Peter Costello of Ireland, as well as other members of the Costello family, on Ancestry. As per his parents, his father, Russell,taught politics at Carey Grammar in Melbourne. "These are the best times for Australia. It was passed through the Senate with the help of the Australian Democrats. The dispute focussed on one abattoir, Mudginberri, which chose to fight the AMIEU claim. Costello would be happy to know as the baby bonus generation grows up, there will be a record number of Australians coming of age in the next decade. But he took aim at "two additional things which it had not done before". "The reach of government, the cost of government, the debt incurred by government is just starting to ratchet up through each cycle", Costello said. He was a graduate of Most Holy Rosary class of 1967. Dismiss. Here's what we found. "The government decided it wouldn't claw it back. Full Summary. Time's gone by, it seems to be. As they explained: One minute the sun shines on you but for whatever reason, it can turn. Were sorry, this feature is currently unavailable. As Deputy Leader until 2007, he was the longest serving in that role, achieving that status in 2006 after breaking the record of the party's first Deputy Leader Sir Eric Harrison. Born in. It worked. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. In our society in our time we prefer appointment by merit. Contact profile manager; View family tree; Problem with this page? Bianca Carelli Age 2023, Height, Weight, Wikipedia, Boyfriend, Instagram, Net Worth. Peter Costello warned the people that the government is operating in a parallel universe.. I mean that, Packer wrote in one of his emails. Jobs People Learning Dismiss Dismiss. During this period he eliminated the Commonwealth Government net debt of $96 billion. And the idea was, when we came out of that financial crisis, the stimulus would be paid back. [26], After the 2001 election, he attracted criticism for not securing funding for a key election promise to extend the Medicare safety net. In 2011, Peter Costello revealed that he never attendeda parent-teacher interview of his three children. COVID has passed, we've got to unwind it, we've got to try and get back to where we were," he said. Add friend Advertisement Followers & Sources Later on, Costello became a barrister representingemployers in some of the famousindustrial relations disputes of Australia. He was born August 1, 1925 in Cherryhill, Pennsylvania. In 1983 and 1984, Costello represented the National Farmers' Federation in legal action against the Australasian Meat Industry Employees Union (AMIEU). Please try again later. However, on 12 September 2007, amid renewed leadership tensions and a series of unfavourable public polls, Howard confirmed he would step aside well into the next term, if re-elected, and that Costello would be his "logical successor".[36]. My practice helps a select group of high net worth individuals, families and institutions to build, manage and transition wealth. Costellos denial is consistent with the recollections of Victorias gaming minister at the time, Michael OBrien, who said emphatically: Costello has never, ever lobbied me on behalf of Crown or anyone else.. So, what is Peter Costello planning do to now? In August 2008, he ruled out challenging Nelson, but did not comment on the prospect of Nelson stepping aside in his favour. [17], Hewson's shock defeat at the 1993 election, Costello believes, can be attributed to Hewson lacking the experience to know which things to try to change and which things to avoid trying to change. Until July 2005, Costello's own agenda of labour market deregulation remained blocked by the government's lack of a Senate majority. Peter is married to Tanya and they have three children. [49][50][51][52], Costello is a managing partner of BKK Partners, a boutique corporate advisory run by former Goldman Sachs JBWere managers. Peter's Family Tree Parent Parent Peter J Costello Partner Child Sibling Friends Friends can be as close as family. Prior to entering Parliament he was a Barrister and Counsel in some of Australia's best-known industrial disputes. He is the longest-serving treasurer in Australia's history. Costello believed Hewson fought everyone from Churches and Welfare groups over the GST to the Supernnuation and Medicare organisations and recipients. Skip Ancestry main menu Main . I didn't go into the bear pit of Parliament.". Discover today's celebrity birthdays and explore famous people who share your birthday. He was immediately promoted to the Opposition front bench and proved an effective debater against the Labor government of Bob Hawke and Paul Keating. The dispute focussed on one abattoir, Mudginberri, which chose to fight the AMIEU claim. Peter's immediate relatives including parents, siblings, partnerships and children in the Costello family tree. Ultimately the AMIEU claim was unsuccessful. How much is too much to give children or grandchildren? The smirk came out in the early days with me and later days with Peter, so DNA is cruel. Responsible for the SAP business unit across all brands at IBM. He was predeceased by : his father John . Peter . And as a consequence, the Reserve Bank will be a loss-making activity for several years and we, the taxpayers, will have to support it.". After being challenged that Australia is currently reflecting global trends, with many other countries in similar situations after funding COVID measures, Costello said,"we're falling into line with other countries that run big deficits and big debts, you might be right about that. Certainly, its Mr. Costellos view that the politician should focus on the public but right now lets concentrate on his private life. His brother, on the other hand, has led a life ministering the economy in the treacherous corridors of Canberra. [27][28][29] [30], In February 2006, Costello caused controversy during a lecture at the Sydney Institute when questioned about the government's refusal to legally recognise same-sex marriage. "Then we go into COVID. The idea is when we come out of COVID, it will be paid back. In trading terms these are the greatest days since the gold rushes," he said. The most remarkable thing about Packers emails is that they took so long to become public. Is Dak Prescott Married To His Girlfriend Natalie Buffett? That was stimulatory.". Patrick's genetic gift to future generations of Costellos is unmistakable: the determined gaze, the resolute chin and that legendary smirk. Peter Costello's Geni Profile. Now thats fine, but I kept waiting for the economic narrative to come. It was revealed in July 2006 that this was due to a December 1994 meeting between Howard, Costello and Ian McLachlan during which Howard allegedly agreed to stand aside after one and a half terms as Prime Minister in return for Costello's agreement not to challenge for the leadership. Has it saved Australia's population? From 2009, Mr Costello has worked as a corporate advisor in the field of mergers, acquisitions and foreign investment. But we used to be better". Sign up to get it every weekday morning. Discover Peter Costello's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. On 18 September 2008, Costello was appointed as chairman of the World Bank's new Independent Advisory Board (IAB) to provide advice on anti-corruption measures. Another senior figure at ECG confirmed that neither Crown nor CHP were ever clients of the firm. He entered the House of Representatives at the age of 32. Peter Costello delivered 10 budget surpluses, but did not face a challenge as big as COVID-19. Kroger believes Costello was targeting her along with others; Kroger also claimed Costello very often criticises past and present Liberal party MPs and officials. Add Peter's family friends, and his friends from childhood through adulthood. [56] Howard used the memoir to settle some personal scores, calling Costello "an elitist, who's unable to connect to ordinary Australians" and accuses Costello of bungling the leadership handover issue. Nine chairman Peter Costello.Credit:James Brickwood. [3] He was the second of three children; his elder brother, Tim, is a prominent Baptist minister and former CEO of World Vision Australia. He has a Bachelor of Arts and a Bachelor of Laws LLB (Hons) and a Doctorate of Laws (Honoris Causa) from Monash University. Two words showed something was wrong with the system, After centuries of Murdaugh rule in the Deep South, the family's power ends with a life sentence for murder, With Prince Andrew's sweetheart mansion rental ending, King Charles offers compromise that shocks his son, How a 21yo man with the code name 'Svyat' smuggled residents past Putin's private army, A Nazi-hunting nun, an accused murderer, a theatre legend: This Australian actor plays them all, The messy family drama behind one of the world's biggest K-pop empires, 'Skill up NSW': Chris Minns pledges to get young people working asLabor launches election campaign, Sherpa are world famous for their work, which is synonymous with their name. Costello is a descendant of Irish immigrant Patrick Costello, who was expelled from the Parliament of Victoria in the 1860s for electoral fraud. "As the bonds mature and the Bank's balance sheet declines, the Bank will once again return to positive earnings. An exit poll of 2,787 voters by Auspoll, commissioned by Sky News, included a question on the statement "I dont want Peter Costello to become Prime Minister". We collect and match historical records that Ancestry users have contributed to their family trees to create each person's profile. James Packer is the latest high-profile voice to call for Julian Assanges release. He is a member of famous Chairman with the age 65 years old group. Majah Hype, a new comedy superstar in the region, is the self-proclaimed king of Caribbean comedy. In the late 1980s, he was identified as part of the New Right movement,[10] which was organised to some extent in the H. R. Nicholls Society. In 2020 and 2021, RBA Governor Philip Lowe said interest rates would not likely rise until 2024. And by doing so they are urging him to challenge the Prime Minister,Malcolm Turnbull. Kirk Douglas talks about being the only boy in a family of six sisters; Dudley Moore and Peter Cook discuss why they were kicked off an Australian show. "What makes one family extroverted and another family reserved?". As of now, the former treasurer Peter Costello attended theOutlook Conference in Melbourne. Costello responded by claiming that Howard "appears to be incapable of taking responsibility for the defeat of the government and for losing his seat of Bennelong.". "Do you stand in a particular way because it feels right or because you have observed a relative at a young age?" Peter Francis Costello Jr. (1919-1973) - Find a Grave Memorial SGT ARMY AIR FORCES WORLD WAR ll Enlistment Date 29 Jan 1941 Release Date 8 Nov 1945 PARENTS Peter F Costello 1896 - 1977 Margaret Mary McCormick 1898 - 1952 MARRIED BETTY MARIE MURDOCK 1943, ORANGE COUNTY Skip to main content Home Memorials Cemeteries Famous Contribute Register James Packer is the latest high-profile voice to call for Julian Assanges release.Credit:AAP, AP. Gonski's appointment was in spite of an independent review (that was conducted by Gonski). Diplomat, Philippine Ombudsman, and Swiss Jurist Tapped For Anti-Corruption Board", "Future Fund Management Agency, Australian Government", "The ancestor who gave Peter Costello that smirk", "Infamous Costello smirk "a cover for insecurity over bad teeth", "Peter Costello Prominent Monash Alumnus", "Obituaries: Late-blooming writer told lost tales", "OPPOSITION EXECUTIVES AND SHADOW MINISTRIES", "Out of the rough: Kennett and Kroger end feud", "Prime Ministers of Australia: John Howard", "Australia's Constitutional Convention 1998", "Transcript of The Hon Peter Costello MP, Treasurer interview with John Faine, 3LO", "The baby bonus generation is starting to turn 18. Peter Howard Costello, AC (born 14 August 1957), is a former Australian politician and lawyer who served as the Treasurer in the Australian Howard Government from 1996 to 2007. So, how much is Peter Costello worth at the age of 65 years old? However, on 12 September 2007, amid renewed leadership tensions and a series of unfavourable public polls, Howard confirmed he would step aside well into the next term, if re-elected, and that Costello would be his "logical successor". Region. These 6 Accessories Will Elevate Your, Australian Celebrities Playing Casino Games. A federal election was held on 24 November 2007. Former Liberal treasurer Peter Costello has launched a broadside against both the Labor Party and the Coalition, accusing each of bad economic decisions in recent years. On stage, the comedian puts on All Rights Reserved | aussiecelebs.com.au. We recommend you to check the complete list of Famous People born on 14 August. Who Is Jonathan Majors Wife and Daughter? While Peter may miss out on the prime ministership, Patrick Costello cheated himself into the Victorian Parliament. However on 7 October 2009, Costello announced he would be resigning from Parliament when it resumed later in the month. , money, salary, income, and assets. The spend was intended to provide "extra insurance against the ongoing risk of very bad economic outcomes" for Australia, but Costello said it resulted in "very big losses" for the RBA. [24], Costello advocated for change to a republic at the Australian Constitutional Convention 1998. In his note to staff, Chessell said that throughout the research and production of the Crown Unmasked series, Costello never spoke to him about it. The Coalition lost the election. Inflation, interest rates and unemployment all fell and remained generally low during Costello's term as Treasurer. On 15 June 2009, Costello announced that he would retire from Parliament at the next Federal election. [53] He also chairs the advisory board of specialist corporate advisory firm ECG Advisory Solutions.[54]. Costello was educated at Carey Baptist Grammar School and Monash University, where he studied arts and law, graduating with honours in 1982. [39] A week later, he indicated that he would be unlikely to serve out in full his parliamentary term of three years. "You can get into this debt trap, where a very large proportion of your income has to go on servicing past debt.". During this period he eliminated the Commonwealth Government net debt of $96 billion. As Deputy Leader until 2007, he was the longest serving in that role, achieving that status in 2006 after breaking the record of the party's first Deputy Leader Sir Eric Harrison. Skip Ancestry main menu Main Menu. [33] Howard denied the claims repeatedly, stating the continued public drama displayed "hubris and arrogance" and that the leadership was the party room's to decide, not a prize to be handed over by leaders to successors.[34]. The capital will have to be made up over the next several years. Media attention immediately shifted to whether Costello's decision cleared the way for a leadership challenge by Malcolm Turnbull (who was the shadow treasurer at the time). Tax reform became a major policy focus for Costello. Peter Costello practiced as a lawyer and Barrister for ten years before entering the Australian Parliament where he served over nineteen years. Now, that's an obvious design fault. More about the Costello family name; Sponsored by Ancestry. Hewson's shock defeat at the 1993 election brought Costello into consideration as a leadership contender. He will be sadly missed by his remarkable wife Celine, his cherished daughter Lydia, his beloved sons Ethan and Oran, his mother Nancy, his sisters, his godchildren, nieces, nephews, his. [8], In 1982 Costello married Tanya (ne Coleman), daughter of writer and former Liberal politician Peter Coleman.[9]. Costello made his maiden speech in May 1990 and mentioned "government should be subservient to the citizen; the Executive accountable to the representative parliament; and the monopoly give way in the face of the individual. After a high school career in which he enjoyed and excelled at a number of sports, he graduated from. He rejected any suggestion that Australia was not already an independent nation and said that the Australian Constitution works "remarkably well". "[58], In May 2012, Michael Kroger accused Costello of being interested in returning to Federal Parliament, most likely by getting a Liberal MP to step aside, with the hope of becoming leader of the Liberal Party. [35], Despite tensions between the Prime Minister and the Treasurer, nothing further came of those events. While Peter Costello declined to speak to The Sunday Age about the family smirk, his brother, Tim Costello, obliged. Aug 2020 - Present2 years 8 months. Must-haves for new parents 3 days ago. The Jets are not drafting in the top 10 for the first time in three years. So all of those losses wiped out the capital that it had," he said. He stated that marriage should only be recognised between heterosexual couples. They had three kids (William, Martin and Thomas)before leaving to PEI. Nor did he observe such an expression on his father, Russell. As per his parents, his father, Russell, taught politics at Carey Grammar in Melbourne. [18] Hewson was deposed as Liberal leader in May 1994, Costello supported Alexander Downer for the leadership, becoming his Deputy Leader and shadow Treasurer. Peter Costello on Patrick Costello. This timeframe coincides with Costello becoming a partner in Epstein Costello Gazard (ECG) Advisory Solution, a registered government relations firm, but the former federal treasurer insists he was only an investor in ECG and not a lobbyist. "Ohhh," said Laura Wright (Carly) with a series of heart emojis to punctuate the sentiment. The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. The Liberal/National coalition headed by Howard won the 1996 election, defeating the Keating government on a 29-seat swing, and Costello became Federal Treasurer at age 38, the same age at which Howard himself had become treasurer in 1977. He was also chairman of the World Bank's anti-corruption effort. But it won't be.". The AMIEU was seeking a unit tally system to be set up in abattoirs in the Northern Territory. This much is certain: the young Peter Costello did not observe his great-great-grandfather smirking. The Crown Unmasked series precipitated three separate inquiries into Crowns activities in Victoria, NSW and WA, a finding that the company was unfit to open its new casino in Sydney, and Packers decision to finally cash in his chips with private equity firm Blackstone. As per our current Database, Peter Costello is still alive (as per Wikipedia, Last update: May 10, 2020). News: Coalition needed 'fresher face' to win", NAB pledges to pass on interest rate cuts, "Costello may still harbour dream of being PM", "Peter Costello won't bury his PM ambition", Costello announces he will not renominate, "Former Liberal treasurer Peter Costello won't contest another election", "Murray wades into Future Fund fight over Costello", "Labor refuses to release report showing Future Fund board wanted Costello, not Gonski", "Minchin backs Gonski over Future Fund 'shemozzle', "Costello joins corporate advisory firm BKK Partners", "I'm just being honest, Howard says amid rising tensions", "One tiny chink in legacy of street-fighting man", "Costello denies accusations from irrelevant Kroger", "Costello heads Australia Day honour roll", Peter Costello Official Website (www.petercostello.com.au), Deputy Leader of the Liberal Party of Australia, https://en.wikipedia.org/w/index.php?title=Peter_Costello&oldid=1141057691, This page was last edited on 23 February 2023, at 03:51. He has also been patron of Baptist World Aid Australia, a member of the Australian Earth Charter Committee, a council member of the Australian Centre for Christianity and Culture, a spokesperson for the Interchurch Gambling Taskforce, a member of the National Advisory Body on Gambling and a member of the Alcohol Education and Rehabilitation Costello was a member of parliament (MP) of the Australian House of Representatives from 1990 to 2009, representing the Division of Higgins. Peter holds degrees from Monash University BA, LLB (Hons), LLD (Honoris Causa). It could have been fixed with legislation. This year, the RBA hiked interest rates for seven consecutive months, prompting an apology from Lowe. A week later, he indicated that he would be unlikely to serve out in full his parliamentary term of three years. The government talks a lot about a 'trillion dollar debt'. Sunday Break 1 (Peter Frampton, Santana, Gary Wright, America, Cecilio & Kapono, and Wolfman Jack) Sunday Break 2 [Fleetwood Mac, America, The Band, Chicago and Steve Miller] Supertramp Suzi Quatro T Rex Talking Heads Tears for Fears Ted Nugent Television Terence Trent D'Arby "[14] Costello made his maiden speech in May 1990 and mentioned "government should be subservient to the citizen; the Executive accountable to the representative parliament; and the monopoly give way in the face of the individual." Peter E. Costello, III, 71, of Maidencreek Township, died September 9, 2012 in his residence. Phoenix, Arizona, United States. What Are the Greatest Features of Online Casino, Starting a High-End Hair Salon? Costello has served as Chairman of Nine Entertainment Co. since February 2016. Were working to restore it. Advertisement. Learn more about . You come back and your device will be smoking.. Tim Costello, the chief executive of World Vision Australia, has led a life of ministering to the poor and downtrodden. With over 40,000 dedicated professionals, our SAP business . It may sound like a huge figure, but context is important. The next few years saw a marked rise in the nation's fertility rate . No other newsrooms would have had the courage to run Crown Unmasked. He also cited worries about "higher defence spending coming in, the NDIS growing extremely fast the ageing of the population, the move to a carbon-free future" which "are all going to cost money". Some of Costello's harshest words were directed at the Reserve Bank of Australia (RBA). Known to wear men's pants and go about without a brassiere (small breasts). [22] He oversaw the return to and maintenance of federal budget surpluses, which enabled significant reduction in government debt. He joined the network in 2018 following a gig at Sky News Australia. His net worth has been growing significantly in 2021-2022. [40], However, as opposition leader Brendan Nelson struggled, speculation mounted that Costello would change his mind and seek the leadership. Australia's total net debt is around $500 billion and gross debt is nearly $900 billion.

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