big sky brad
09-13-2007, 02:34 AM
Howard's Resignation Pledge May Lead to Defeat
(Update1)
By Gemma Daley
Sept. 13 (Bloomberg) -- Australian Prime Minister John Howard's announcement that he will retire during his next term and hand power to Treasurer Peter Costello may cost him the election he's trying to win.
"I will, well into my term if we win, contemplate retirement and Peter Costello will become the replacement,'' Howard, 68, told Australian Broadcasting Corp.'s ``7.30 Report'' yesterday, ending days of media speculation he would retire before the election, which polls show the Liberal- National coalition will lose.
"This guarantees the coalition's defeat,'' said Malcolm Mackerras, a political analyst at the University of New South Wales, who forecasts Labor to gain 30 seats and power at the election. "People will simply say, 'If Costello is the candidate for prime minister, why won't you make him the candidate now? It's because he's unelectable.'''
The Liberal Party this week supported Howard, the nation's second-longest serving leader, to lead them in the election, which will be held by early December. It follows polls that point to a landslide defeat for the coalition.
"I've never contemplated falling on my sword,'' Howard said last night. "I would certainly form the view well into my term, that it make sense for me to retire.''
Howard, who once described himself as "Lazarus with a triple bypass,'' has been mired in a week of uncertainty over whether he will stay in the job and when he will call the election.
Cabinet Discord
"He is asking Australians to elect him so he can retire,'' Labor Party deputy leader Julia Gillard said in an interview in Canberra.
Foreign Minister Alexander Downer took "soundings'' for Howard last week and said the cabinet contemplated replacing him with Costello. Howard, after speaking with his family on Sept. 9, vowed to fight the next election.
Costello told Sydney Radio 2GB today he "looks forward'' to a prominent role in the campaign.
"This decreases their election chances,'' said Andrew Macintosh, deputy director of the Canberra-based Australia Institute. "No one likes Costello. The polls are abysmal on him.''
Odds shortened today at Sportingbet Australia, the nation's largest bookmaker, for a Labor win at the election.
Lengthening Odds
A dollar wagered on a Rudd victory returned A$1.30 ($1.09) today from A$1.35 yesterday. Howard's odds lengthened to A$3.60, the worst in his 11 years in power, Sportingbet Chief Executive Officer Michael Sullivan said.
"In years of betting on the federal election, we haven't seen a political party written off by punters the way Howard and the coalition have been,'' Sullivan said in a statement e- mailed to Bloomberg News. "The money flooded in for Kevin Rudd at the start of trading today.''
Howard, a 33-year veteran of politics, has delivered the nation's longest stretch of economic growth, paid off A$96 billion in government net debt and has reformed tax and workplace laws. He has delivered 10 budgets in surplus.
Howard also developed a close relationship with U.S. President George W. Bush, who described him as a "man of steel'' and "deputy sheriff,'' and Asian leaders including Chinese President Hu Jintao. Howard was in Washington to visit Bush when terrorists struck there and New York six years ago.
Hosting APEC
Hosting the Asia-Pacific Economic Cooperation summit last week was meant to reverse Howard's decline in opinion polls since the opposition Labor Party elected Kevin Rudd leader in December. An ACNielsen poll Sept. 10 showed the government's support fell to 43 percent, 14 points behind Labor.
Rudd, a former diplomat, has promised to withdraw Australian troops from Iraq by 2008, ratify the Kyoto Protocol and reverse laws that have stripped unions of some of their wage-bargaining power.
The 49-year-old Rudd, who made headlines in August when it was revealed he went to a New York Strip club in 2003 while he was representing Australia at the United Nations, thrilled the Chinese delegation at the APEC meeting with his fluent Mandarin.
Voters have been angered by five quarter-point interest- rate increases since Howard won the previous election in 2004 after campaigning on a pledge to keep borrowing costs low. New workplace laws that give employers more power in setting wages have also hurt Howard, as has his support for the war in Iraq.
Modest Beginnings
Born on July 26, 1939, Howard grew up the son of a suburban Sydney gas station owner. His father Lyall died in 1955, during Howard's second-to-last year at Canterbury High School. He graduated and studied law at the University of Sydney.
Howard entered politics in 1974 and spent most of the 1980s in opposition embroiled in a leadership tussle with fellow Liberal Andrew Peacock.
"I hope people understand from observing me in 30-odd years of public life that I have never run from a fight before and I don't intend to do so now,'' Howard told reporters in Canberra on Sept. 11 at a press conference with Canadian leader Stephen Harper.
He won office in 1996 with a landslide victory over Prime Minister Paul Keating, ending a 13-year rule by Labor. His campaign slogan was ``For all of us.''
"He is battle-hardened and he is a class politician,' said Gerard Henderson, executive director of the Sydney Institute research group, and Howard's chief of staff from 1984 to 1986. "He has divided voters, but they have still backed him.''
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(Update1)
By Gemma Daley
Sept. 13 (Bloomberg) -- Australian Prime Minister John Howard's announcement that he will retire during his next term and hand power to Treasurer Peter Costello may cost him the election he's trying to win.
"I will, well into my term if we win, contemplate retirement and Peter Costello will become the replacement,'' Howard, 68, told Australian Broadcasting Corp.'s ``7.30 Report'' yesterday, ending days of media speculation he would retire before the election, which polls show the Liberal- National coalition will lose.
"This guarantees the coalition's defeat,'' said Malcolm Mackerras, a political analyst at the University of New South Wales, who forecasts Labor to gain 30 seats and power at the election. "People will simply say, 'If Costello is the candidate for prime minister, why won't you make him the candidate now? It's because he's unelectable.'''
The Liberal Party this week supported Howard, the nation's second-longest serving leader, to lead them in the election, which will be held by early December. It follows polls that point to a landslide defeat for the coalition.
"I've never contemplated falling on my sword,'' Howard said last night. "I would certainly form the view well into my term, that it make sense for me to retire.''
Howard, who once described himself as "Lazarus with a triple bypass,'' has been mired in a week of uncertainty over whether he will stay in the job and when he will call the election.
Cabinet Discord
"He is asking Australians to elect him so he can retire,'' Labor Party deputy leader Julia Gillard said in an interview in Canberra.
Foreign Minister Alexander Downer took "soundings'' for Howard last week and said the cabinet contemplated replacing him with Costello. Howard, after speaking with his family on Sept. 9, vowed to fight the next election.
Costello told Sydney Radio 2GB today he "looks forward'' to a prominent role in the campaign.
"This decreases their election chances,'' said Andrew Macintosh, deputy director of the Canberra-based Australia Institute. "No one likes Costello. The polls are abysmal on him.''
Odds shortened today at Sportingbet Australia, the nation's largest bookmaker, for a Labor win at the election.
Lengthening Odds
A dollar wagered on a Rudd victory returned A$1.30 ($1.09) today from A$1.35 yesterday. Howard's odds lengthened to A$3.60, the worst in his 11 years in power, Sportingbet Chief Executive Officer Michael Sullivan said.
"In years of betting on the federal election, we haven't seen a political party written off by punters the way Howard and the coalition have been,'' Sullivan said in a statement e- mailed to Bloomberg News. "The money flooded in for Kevin Rudd at the start of trading today.''
Howard, a 33-year veteran of politics, has delivered the nation's longest stretch of economic growth, paid off A$96 billion in government net debt and has reformed tax and workplace laws. He has delivered 10 budgets in surplus.
Howard also developed a close relationship with U.S. President George W. Bush, who described him as a "man of steel'' and "deputy sheriff,'' and Asian leaders including Chinese President Hu Jintao. Howard was in Washington to visit Bush when terrorists struck there and New York six years ago.
Hosting APEC
Hosting the Asia-Pacific Economic Cooperation summit last week was meant to reverse Howard's decline in opinion polls since the opposition Labor Party elected Kevin Rudd leader in December. An ACNielsen poll Sept. 10 showed the government's support fell to 43 percent, 14 points behind Labor.
Rudd, a former diplomat, has promised to withdraw Australian troops from Iraq by 2008, ratify the Kyoto Protocol and reverse laws that have stripped unions of some of their wage-bargaining power.
The 49-year-old Rudd, who made headlines in August when it was revealed he went to a New York Strip club in 2003 while he was representing Australia at the United Nations, thrilled the Chinese delegation at the APEC meeting with his fluent Mandarin.
Voters have been angered by five quarter-point interest- rate increases since Howard won the previous election in 2004 after campaigning on a pledge to keep borrowing costs low. New workplace laws that give employers more power in setting wages have also hurt Howard, as has his support for the war in Iraq.
Modest Beginnings
Born on July 26, 1939, Howard grew up the son of a suburban Sydney gas station owner. His father Lyall died in 1955, during Howard's second-to-last year at Canterbury High School. He graduated and studied law at the University of Sydney.
Howard entered politics in 1974 and spent most of the 1980s in opposition embroiled in a leadership tussle with fellow Liberal Andrew Peacock.
"I hope people understand from observing me in 30-odd years of public life that I have never run from a fight before and I don't intend to do so now,'' Howard told reporters in Canberra on Sept. 11 at a press conference with Canadian leader Stephen Harper.
He won office in 1996 with a landslide victory over Prime Minister Paul Keating, ending a 13-year rule by Labor. His campaign slogan was ``For all of us.''
"He is battle-hardened and he is a class politician,' said Gerard Henderson, executive director of the Sydney Institute research group, and Howard's chief of staff from 1984 to 1986. "He has divided voters, but they have still backed him.''
Link -
[Only registered and activated users can see links]