1996 - Monash graduate becomes Federal Treasurer
The Honourable Peter Costello, MP LLB (Hons) 1980, BA 1982, becomes the Australian Federal Treasurer.
Peter Costello completed a Bachelor of Arts and a Bachelor of Laws at Monash University. From 1981-90 he was a solicitor at Mallesons Melbourne, and then a self-employed barrister.
Between 1984 and 1986 he was a part-time tutor in the Law Faculty and the (then) Economics & Politics faculty at Monash University.
Mr Costello was first elected to the House of Representatives in 1990 for the seat of Higgins and has been re-elected in every election since then. In his time in Opposition he was Shadow Minister for Corporate Law Reform and Consumer Affairs from 1990-92, Shadow Attorney Shadow Minister for Justice 1992-93, Shadow Minister for Finance 1993-94 and Shadow Treasurer 1994-96.
He was chairman of the Council of the Organisation for Economic Co-Operation and Development (OECD) in 2000.
While in Government, Mr Costello was deputy leader of the Federal Liberal Party from 1994 -- 2007 and Federal Treasurer from 1996 -- 2007.