Paul Keating | |
|---|---|
 Official portrait, 1993 | |
| 24th Prime Minister of Australia | |
| In office 20 December 1991 – 11 March 1996 | |
| Monarch | Elizabeth II |
| Governors General | |
| Deputy | |
| Preceded by | Bob Hawke |
| Succeeded by | John Howard |
| 14th Leader of the Labor Party | |
| In office 19 December 1991 – 19 March 1996 | |
| Deputy |
|
| Preceded by | Bob Hawke |
| Succeeded by | Kim Beazley |
| Deputy Prime Minister of Australia | |
| In office 4 April 1990 – 3 June 1991 | |
| Prime Minister | Bob Hawke |
| Preceded by | Lionel Bowen |
| Succeeded by | Brian Howe |
| Deputy Leader of the Labor Party | |
| In office 4 April 1990 – 3 June 1991 | |
| Leader | Bob Hawke |
| Preceded by | Lionel Bowen |
| Succeeded by | Brian Howe |
| Treasurer of Australia | |
| In office 11 March 1983 – 3 June 1991 | |
| Prime Minister | Bob Hawke |
| Preceded by | John Howard |
| Succeeded by | John Kerin |
| Minister for Northern Australia | |
| In office 21 October 1975 – 11 November 1975 | |
| Prime Minister | Gough Whitlam |
| Preceded by | Rex Patterson |
| Succeeded by | Ian Sinclair |
| Member of theAustralian Parliament forBlaxland | |
| In office 25 October 1969 – 23 April 1996 | |
| Preceded by | Jim Harrison |
| Succeeded by | Michael Hatton |
| Personal details | |
| Born | Paul John Keating (1944-01-18)18 January 1944 (age 81) Darlinghurst,New South Wales, Australia |
| Political party | Labor |
| Spouse | |
| Domestic partner | Julieanne Newbould (1999–present) |
| Children | 4 |
| Residence(s) | Potts Point,New South Wales, Australia |
| Education |
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| Profession |
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| Signature |  |
| Website | paulkeating |
Paul John Keating (born 18 January 1944) is an Australian former politician and trade unionist who served as the 24thprime minister of Australia from 1991 to 1996. He held office as theleader of the Labor Party (ALP), having previously served astreasurer underBob Hawke from 1983 to 1991 and as the seventhdeputy prime minister from 1990 to 1991.
Keating was born inSydney and left school at the age of 14. He joined the Labor Party at the same age, serving a term as State president ofYoung Labor and working as a research assistant for a trade union. He was elected to theAustralian House of Representatives at the age of 25, winning thedivision of Blaxland at the1969 election. He was brieflyminister for Northern Australia from October to November 1975, in the final weeks of theWhitlam government - along withDoug McClelland, he is the last surviving minister who served underGough Whitlam. Afterthe Dismissal removed Labor from power, he held senior portfolios in theShadow Cabinets of Whitlam andBill Hayden. During this time he came to be seen as the leader of theLabor Right faction, and developed a reputation as a talented and fierce parliamentary performer.
After Labor's landslide victory at the1983 election, Keating was appointed treasurer by prime ministerBob Hawke. The pair developed a powerful political partnership, overseeing significant reforms intended toliberalise and strengthen the Australian economy. These included thePrices and Incomes Accord, thefloat of the Australian dollar, the elimination oftariffs, the deregulation of the financial sector, achieving the first federalbudget surplus in Australian history, and reform of thetaxation system, including the introduction ofcapital gains tax,fringe benefits tax, anddividend imputation. He also became recognised for hissardonic rhetoric, as a controversial but deeply skilled orator.[1][2] Keating became deputy prime minister in 1990, but in June 1991 he resigned from the ministry tounsuccessfully challenge Hawke for the leadership, believing he had reneged on theKirribilli Agreement. He mounteda second successful challenge six months later, and became prime minister.
Keating was appointed prime minister in the aftermath ofthe early 1990s economic downturn, which he had famously described as "the recession that Australia had to have". This, combined with poor opinion polling, led many to predict Labor was certain to lose the1993 election, but Keating's government was re-elected in anupset victory. In its second term, theKeating government enacted the landmarkNative Title Act to enshrineIndigenous land rights, introducedcompulsory superannuation andenterprise bargaining, createda national infrastructure development program, privatisedQantas,Commonwealth Serum Laboratories and theCommonwealth Bank, established theAPEC leaders' meeting, and promotedrepublicanism by establishing theRepublic Advisory Committee.
At the1996 election, after 13 years in office, Keating’s government suffered a landslide defeat to theLiberal–National Coalition, led byJohn Howard. Keating resigned as leader of the Labor Party and retired from Parliament shortly after the election, with his deputyKim Beazley beingelected unopposed to replace him. Keating has since remained active as a political commentator, whilst maintaining a broad series of business interests, including serving on the international board of theChina Development Bank from 2005 to 2018.
As prime minister, Keating performed poorly inopinion polls, and in August 1993, received the lowest approval rating for any Australian prime minister since modern political polling began.[3] Since leaving office, Keating received broad praise from historians and commentators for his role in modernising the Australian economy as treasurer, althoughratings of his premiership have been mixed.[4][5][6][7] Keating has been recognised across the political spectrum for his charisma, debating skills, and his willingness to boldly confront social norms,[1] including his famousRedfern Park Speech on the impact ofcolonisation in Australia andAboriginal reconciliation.[8]
Keating was born atSt Margaret's Hospital inDarlinghurst,Sydney, on 18 January 1944.[9] He was the first of four children born to Minnie (née Chapman) and Matthew John Keating. His father worked as aboilermaker for theNew South Wales Government Railways.[10] All of Keating's grandparents were born in Australia. On his father's side, he was descended from Irish immigrants born in countiesGalway,Roscommon, andTipperary.[11] On his mother's side, he was of mixed English and Irish descent. His maternal grandfather, Fred Chapman, was the son of twoconvicts, John Chapman and Sarah Gallagher, both of whom had beentransported for theft in the 1830s.[12]
Keating grew up inBankstown, a working-class suburb in western Sydney, the family home from 1942 to 1966 being a modestfibro-and-brick bungalow at 3 Marshall Street (demolished for flat development in 2014).[13] The suburb was nicknamed "Irishtown" during Keating's childhood, and sectarian antagonisms between Protestants and Roman Catholics were commonplace. Keating's upbringing was Catholic, with his father being involved with anti-Communist workers' organisations andCatholic social teaching having a significant impact on Keating's social perspective.[14] His siblings include Anne Keating, a company director and businesswoman.
Leaving De La Salle College — now known asLaSalle Catholic College — at the age of 14, Keating left high school rather than pursuing higher education, instead working as a pay clerk at theSydney County Council's electricity distributor. Keating also attended Belmore Technical High School to further his education.[15] He then worked as research assistant for a trade union, having joined theLabor Party as soon as he was eligible. In 1966, he became president of New South Wales Young Labor.[16] During the 1960s, Keating also managed a rock band named The Ramrods.[17]
Through his contacts in the unions and Young Labor, then known as Youth Council, Keating met future senior Labor figures such asLaurie Brereton,Graham Richardson andBob Carr. He also developed a friendship with formerNew South Wales PremierJack Lang, who Keating took on as a political mentor. In 1971, he succeeded in having Lang re-admitted to the Labor Party.[18] Keating successfully gained the Labor nomination for the seat ofBlaxland in the western suburbs of Sydney, and was elected to theHouse of Representatives in1969 when he was just 25 years old.[16]
Keating was initially moresocially conservative; in hismaiden speech he declared that the Liberal government had "boasted about the increasing number of women in the workforce. Rather than something to be proud of, I feel it is something of which we should be ashamed".[19] He later voted against former prime ministerJohn Gorton's motion to decriminalisehomosexuality in 1973. According toTom Uren he was originally a "very narrow-minded young man", who later "matured" and became far less socially conservative.[20]
After Labor's victory at the1972 election, Keating narrowly failed to be elected to serve in theCabinet, instead being a backbencher for most of theWhitlam government. He was eventually appointedMinister for Northern Australia in October 1975, but served in the role only until the Government wascontroversially dismissed by Governor-GeneralJohn Kerr the following month. In a 2013 interview withKerry O'Brien, Keating called the dismissal a "coup" and raised the idea to "arrest [Kerr]" and "lock him up", adding that he would not have "[taken] it lying down" if he was prime minister.[21]
After Labor's defeat in the1975 election, Keating was quickly added to the Shadow Cabinet, serving as Shadow Minister for Minerals, Resources and Energy until January 1983.[15] During this time he achieved a reputation as a flamboyant and fierce parliamentary performer, adopting the style of an aggressive debater. In 1981, he was elected president of theNew South Wales Labor Party, thus becoming the leader of the influentialLabor Right faction. At this time, he initially supported the formertreasurerBill Hayden for Labor Leader over the formerACTU PresidentBob Hawke as leadership tensions between the two men began to mount; he later explained that part of his reasoning was that he privately hoped to succeed Hayden himself in the near future.[22] However, by 1982, the members of his faction had swung behind Hawke, and Keating endorsed his challenge. The formal announcement of Keating's support for Hawke was written by a fellow Labor politician,Gareth Evans.[23]
Although Hayden survived the challenge, pressure continued to mount on him. In an attempt to shore up his position, Hayden promoted Keating to the role of Shadow Treasurer in January 1983. However this did not prove sufficient and Hayden resigned a month later, after apoor by-election result in the federal electorate of Flinders in Victoria. Hawke was elected unopposed to replace him and Hawke subsequently led Labor to a landslide victory in the1983 election just six weeks later.[23]
Following Labor's victory in the 1983 election, Keating was appointedTreasurer of Australia by Prime MinisterBob Hawke; he succeededJohn Howard in the position.[24] He and Hawke were able to use the size of the budget deficit that theHawke government had inherited from theFraser government to question the economic credibility of theLiberal-National Coalition over the coming years.[25] According to Hawke, the historically large $9.6 billion budget deficit left by the Coalition "became a stick with which we were justifiably able to beat the Opposition".[25] Although Howard was widely regarded at this time as being "discredited" by the hidden deficit, he had in fact argued unsuccessfully against Fraser that the revised figures should be disclosed before the election.[26]
In the ensuing years, Hawke and Keating developed an extremely powerful partnership, which proved to be essential to Labor's success in government; multiple Labor figures in years since have cited the partnership between the two as the party's greatest ever.[27] The two men proved a study in contrasts: Hawke was a Rhodes Scholar; Keating left high school early.[28] Hawke's enthusiasms were cigars, betting and most forms of sport; Keating preferredclassical architecture,Mahler symphonies and collectingBritish Regency andFrench Empire antiques.[29][30] Despite not knowing one another before Hawke assumed the leadership in 1983, the two formed a personal as well as political relationship which enabled the Government to pursue a significant number of reforms, although there were occasional points of tension between the two.[31]
Keating, along with Hawke, oversaw a "National Economic Summit" in their first month in office, with Keating leading several sessions outlining the Government's economic agenda. The Summit, which brought together a significant number of senior business and industrial figures alongside trade union leaders and politicians, led to a unanimous adoption of a national economic strategy, generating sufficient political capital for the Government to begin a wide-ranging programme of economic reform previously resisted by much of the Labor Party.[32]
Keating used the authority and relative autonomy provided to him by Hawke to become one of the major driving forces behind the various extensivemacroeconomic reforms of the Government.[33] In December 1983, Hawke and Keating approved thefloating of theAustralian dollar, disregarding advice from theTreasury SecretaryJohn Stone to retain the fixed currency framework.[34][35] The success of the move, which was lauded by economic and media commentators, gave confidence to Keating to pursue even more reforms.[36][37][38] Over the Hawke government's first and second terms, Keating oversaw the gradual elimination oftariffs on imports,[39] the privatisation of several state-owned companies such asQantas,[40]CSL Limited,[41] and theCommonwealth Bank,[42] the deregulation of significant sections of the banking system (including allowing for numerous foreign-owned banks to begin operating in Australia for the first time) and the granting of autonomy on decision-making to theReserve Bank of Australia.[citation needed]
Keating was also instrumental in establishing the Hawke government's signature industrial relations and wages policy, thePrices and Incomes Accord. This was an agreement directly between theAustralian Council of Trade Unions (ACTU) and the Government to guarantee a reduction in demands for wage increases, in exchange for the Government providing a significant increase in social programmes, including the introduction ofMedicare and the Family Assistance Scheme; in so doing, the Government was able to reduce inflation and unemployment over the decade.[43] Keating's management of the Accord, and the close working relationship he developed with ACTU SecretaryBill Kelty, became a source of significant political power for Keating, who negotiated multiple versions of the Accord with Kelty throughout the Hawke government. Through the power given to him, Keating was often able to bypass the Cabinet altogether, notably in exercising monetary policy, and he was regularly referred to as "the most powerful Treasurer in modern times".[44]
In the wake of the raft of macroeconomic reforms introduced by Keating throughout the first term of the Hawke government in particular, in 1984 he was awarded theEuromoney Finance Minister of the Year,[45] an award which became colloquially known in Australia as the "World's Greatest Treasurer", becoming the first Australian treasurer to be presented with the award.[46]
Throughout the second and third terms of the Hawke government, Keating led a significant overhaul of the long-stagnantAustralian taxation system. In 1985, he became a passionate advocate within the Cabinet for the introduction of abroad-based consumption tax, similar in nature to thegoods and services tax that was later introduced by theHoward government, as a means of addressing Australia's chronic balance of payments issue.[47][48] In the build-up to the1984 election, Hawke promised a policy paper on taxation reform to be discussed with all stakeholders at a "National Taxation Summit". Three options – A, B and C – were presented in the paper, with Keating and his Treasury colleagues fiercely advocating for C, which included a consumption tax of 15% on goods and services along with reductions in personal and company income tax, a fringe benefits tax and a capital gains tax. Although Keating was able to win the support of a reluctant Cabinet, Hawke believed that the opposition from the public, the ACTU, and the business community would be too great. He therefore decided to abandon any plans for a consumption tax, although the remainder of the reforms were adopted in the tax reform package. The loss of the consumption tax was seen a defeat for Keating; he later joked about it at a press conference, saying, "It's a bit likeBen Hur. We've crossed the line with one wheel off, but we have crossed the line."[49]
Whilst the remainder of the package represented the biggest overhaul of the Australian taxation system for decades, Keating continued to agitate for further changes to address the balance of payments problems faced by Australia. On 14 May 1986, frustrated at the slow pace of dealing with the issue, he caused considerable public comment and a degree of controversy when he declared on a radio programme that if Australia did not address the problem, it risked degenerating to the status of a "banana republic".[50] Although the remark was quickly disowned by Hawke in public, the Government increased efforts to deal with the growing balance of payments crisis. With no consumption tax to generate a significant increase in incomings, Keating and his ministerial colleagues led a process to significantly reduce Government outlays instead, resulting in some criticism from the grassroots of the Labor Party, who opposed cuts to spending.[50] Despite the criticism, the Government was able to produce a nationalbudget surplus for the years 1988, 1989 and 1990, with the surplus of 1988 proving to be the largest budget surplus in Australian history.[51]
During the campaign for the1987 election, Keating was credited as dealing a "fatal" blow to the Liberal-National Coalition's hopes for victory, after giving a press conference in which he exposed a significant accounting error in the costings the Liberal Party had released to demonstrate how its economic policies would be paid for.[52] Then-Opposition Leader John Howard accepted the error, and subsequent opinion polling reported that the mistake greatly contributed to Labor's vote in what proved to be a landslide victory.[53]
Keating's later tenure as treasurer was heavily criticised by some for consistently high interest rates, which he argued was necessary to reduce economic growth gradually so that demand for imports did not grow out of control. Throughout the 1980s, both the global and Australian economies grew quickly, and by the late 1980s, inflation had grown to around 9%. By 1988, the Reserve Bank of Australia began tightening monetary policy, and household interest rates peaked at 18%. It is often said that the bank was too slow in easing monetary policy, and that this ultimately led to a recession. In private, Keating had argued for rates to rise earlier than they did, and fall sooner, although his view was at odds with the Reserve Bank and his Treasury colleagues.[44][54] Publicly, Hawke and Keating had said there would be no recession – or that there would be a "soft landing" – but this changed when Keating announced the country was indeed in recession in 1990, several months after the Hawke government had won an unprecedented fourth consecutive term in office. Announcing the recession, Keating described it as a "recession Australia had to have". The remark was referred to by political journalistPaul Kelly as "perhaps the most stupid remark of Keating's career, and it nearly cost him the Prime Ministership," though he said that, "...however, it is largely true that the boom begat the recession."[55]
The economic reform package throughout the 1980s has been claimed by numerous economic commentators and journalists to have been the basis for an unprecedentedly long period of economic growth, with Australia'sgross domestic product increasing every year for 30 years, and the end of chronic inflation and balance of payments difficulties, along with the increasingly globalised domestic economy, enabling long periods of stability and growth.[56][57]
At the end of 1988, Keating, who had long believed that he would succeed Hawke as prime minister, began to put pressure on Hawke to retire in the new year. Hawke rejected this advice, but reached asecret agreement with Keating that he would remain as leader through to the1990 election, and that he would resign in Keating's favour shortly after the election, which he convinced Keating he could win.[44] Hawke subsequently won that election, albeit narrowly, and appointed Keating hisdeputy prime minister to replace the retiringLionel Bowen.[58] However, by the end of 1990, frustrated at the lack of any indication from Hawke as to when he might retire, Keating delivered a provocative speech questioning the direction of the government. As a result, Hawke told Keating he would renege on the deal on the basis that Keating had been publicly disloyal.[59]
Although tensions between the two remained private for some time, Keating eventually resigned from theCabinet in June 1991 andchallenged for the leadership.[60] Hawke won the ballot by 66 votes to 44,[61] and in a press statement afterwards Keating declared that he had fired his "one shot" as regards the leadership.[62][63] Publicly, at least, this seemed to spell the end of his leadership ambitions. Having failed to defeat Hawke, he realised that events would have to move very much in his favour for a second challenge to be even possible, and he strongly considered retiring from politics altogether.[64] However, Hawke's leadership was regarded by many as being "wounded" as a result of losing his long-term political partner and the growing confidence of the Liberal-National Coalition under the new leadership ofJohn Hewson.[65][66] After Hawke was forced to sackJohn Kerin, the man appointed to replace Keating as treasurer, for a public gaffe in attempting to combat the Coalition's new 'Fightback!' policy,[67] Keating took the opportunity tochallenge a second time in December 1991, this time emerging victorious by 56 votes to 51.[68] He paid tribute to Hawke's nine years as prime minister, and stated that he would provide a robust challenge to Hewson.[69]
On 20 December 1991, Keating was sworn in as prime minister by theGovernor-General Bill Hayden. On becoming prime minister, he thought of becoming treasurer again, noting that state premiers had often been their own treasurers, but decided against it.[70]John Dawkins was appointed treasurer instead.
Keating entered office with an extensive legislative agenda, including pursuing reconciliation with Australia'sIndigenous population, deepening Australia's economic and cultural ties with Asia, andmaking Australia a republic. The addressing of these issues came to be known as his "big picture".[71]
Shortly after Keating became prime minister, theHigh Court of Australia handed down a judgement inMabo v Queensland, a long-running case onIndigenous land rights; the judgement would come to be known asMabo, and declared that a right tonative title did exist in Australia, overturningterra nullius, but not clarifying exactly who had the right to access the title.[72] Keating led the Government's response to the ruling, beginning a high-profile public campaign on raising awareness of the issue, and advocating repeatedly in favour of the judgment and for an expansion of Aboriginal and Torres Strait Islander land rights. On 10 December 1992, he delivered a major address which came to be known as theRedfern Park Speech onAboriginal reconciliation. The speech, in which he explicitly noted the responsibility of settler Australians for destroying much of Indigenous society, has since regularly been cited as among the greatest in Australian political history.[73][74]
This work culminated in the passage of theNative Title Act in 1993, which "provide(d) a national system for the recognition and protection ofnative title and for its co-existence with the national land management system".[72] As well as creating the legal field of native title, the act established anAboriginal and Torres Strait Islander Social Justice Commissioner, who was required to prepare an annual report to theattorney-general on the operation of the Native Title Act and its effect on the exercise and enjoyment of human rights of Aboriginal and Torres Strait Islander peoples, and to report, when requested by the attorney-general, on any other matter relating to the rights of Indigenous people under the act.[75]
Elsewhere in domestic policy, Keating established and promoted the first Commonwealth cultural policy, known as 'Creative Nation'.[76] The policy allocated AU$250 million over four years to promote the cultural and creative arts sectors in Australia. He had frequently espoused the benefits of the arts in public, and used the policy as an opportunity to develop the Australian cultural sector.[76] During the Keating government,mandatory detention for asylum seekers was also introduced for the first time.[77]
Among Keating's most far-reaching achievements as prime minister was the full introduction of theNational Superannuation Scheme, implemented to address Australia's long-term problem of chronically low national savings. This initiative built on policies that Keating had pursued whilst treasurer, and was aimed at ensuring that most Australians would have enough money to retire. In 1992, the compulsory employer contribution scheme became a part of a wider reform package addressing this retirement income dilemma. It had been demonstrated that Australia, along with many other Western nations, would experience a majordemographic shift in the coming decades, due to ageing population, and it was claimed that this would result in increased pension payments that would place an unaffordable strain on theAustralian economy.
Keating's solution was a "three pillars" approach to retirement income, requiring compulsory employer contributions to superannuation funds, permitting further contributions to superannuation funds and other investments, and introducing, where this was insufficient, a safety net consisting of a means-tested government-funded age pension.[78] The compulsory employer contributions were branded "Superannuation Guarantee" (SG) contributions.[79] As a result of this policy, along with the gradual increases in the minimum contribution amount, Australia grew to become the fourth largest holder of pension fund assets in the world, with a balance of AU$3.3 trillion in superannuation assets at the end of the June 2022 quarter.[80]
In the aftermath of the 1990 recession, Keating appointed his close allyJohn Dawkins as treasurer, and together the two developed an economic package to counter the Liberal-National Coalition's 'Fightback!' proposals; this package came to be known as 'One Nation', and involved using funding from the budget surplus to produce new welfare-to-work programmes, as well as introducing a new degree of competition within the telecommunications and communications industries and creating the Australian National Training Authority (ANTA).[81] 'One Nation' also proposed a series of further tax cuts for middle-income workers coming in two tranches, in 1993 and 1995, although these would later be deferred to 1995 and 1998, a move which cost the Government considerable political support among the public.[81] A further major economic policy development was the introduction of anenterprise bargaining scheme as part of the final stage of thePrices and Incomes Accord, intended to allow for greater flexibility and economies of scale within industrial wage arbitration, although much of this was curtailed by the Howard government after 1996.[81]
Throughout his time as prime minister, Keating took a number of steps to strengthen and develop bilateral links with Australia's closest neighbours; he frequently said that there was no country in the world that was more important to Australia thanIndonesia, and undertook his first overseas visit to the country, becoming the first Australian prime minister to do so.[82] Keating made a conscious effort to develop a personal relationship withIndonesian PresidentSuharto, and to include Indonesia in multilateral forums attended by Australia. Keating's friendship with Suharto was criticised by human rights activists supportive ofEast Timorese independence, and byNobel Peace Prize winnerJosé Ramos-Horta. The Keating government's cooperation with the Indonesian military, and the signing of theTimor Gap Treaty, were also strongly criticised by these same groups. It was alleged by some that Keating was overlooking alleged human rights abuses by the Indonesian government as part of his effort to dramatically increase Australia's cultural, diplomatic and economic ties with Asia.[83]
Following the creation of theAsia-Pacific Economic Cooperation (APEC) Economic Forum byBob Hawke, Keating developed the idea further, winning the support in 1993 of recently electedUS PresidentBill Clinton andChinese PremierLi Peng to expand APEC to a full Leaders' Meeting. This led to APEC becoming one of the most significant high-level international summits, and at the 1994 APEC Leaders' Meeting, hosted by Indonesia, members agreed to the Keating government's proposals for what became known as theBogor Declaration, which set targets for a significant increase in free trade and investment between industrialised APEC countries by 2010 and between developing APEC countries by 2020.[84] In December 1993, Keating became involved in a diplomatic incident withMalaysia when he described Prime MinisterMahathir Mohamad as "recalcitrant". The incident occurred after Mahathir refused to attend the 1993APEC summit. Keating said "APEC is bigger than all of us – Australia, the U.S. and Malaysia, and Dr. Mahathir and any other recalcitrants." The translation of the word "recalcitrant" into Malaysian rendered the word a more egregious insult, and Mahathir demanded an apology from Keating, threatening to reduce diplomatic ties and trade drastically with Australia, which became an enormous concern to Australian exporters. Some Malaysian officials talked of launching a "Buy Australian Last" campaign; Keating subsequently apologised to Mahathir over the remark.[85]
As prime minister, Keating maintained his aggressive debating style. When asked byOpposition LeaderJohn Hewson why he would not call an early election, Keating replied, "because I want to do you slowly." He referred to theLiberal Party as "a motley, dishonest crew", and theNational Party as "dummies and dimwits; desperadoes". During an opposition debate that sought to censure Keating, he described being attacked byPeter Costello as "like being flogged with warm lettuce". Despite this renewed attack on the Opposition, and a busy legislative agenda, many commentators predicted that the1993 election was "unwinnable" for Labor.[86]
During the campaign, Keating focused a great amount of effort on attacking the Coalition's proposedgoods and services tax (GST), arguing that it would prove "a dead weight" on the economy, and stating that "every time you put your hand in your pocket,Dr. Hewson's will be in there with you". He was helped by Hewson struggling towards the end of the campaign toexplain exactly which products would have the GST levied on them, and which would not. Having begun the campaign far behind the Coalition in opinion polls, on 13 March Keating led Labor to an unexpected and record-breakingfifth consecutive election victory, picking up a two-seat swing. The speech Keating delivered at the victory celebration has been described as one of the great Labor speeches.[87][88][89][90] Opening with "This is a victory for the true believers; the men and women of Australia who, in difficult times, have kept the faith", the speech has been described as providing a source of inspiration for Labor Party faithful to the present day.[91]
Like Hawke before him, Keating was able to benefit from disunity in the Liberal Party. Fourteen months after the March 1993 election, John Hewson was replaced as Liberal Leader byAlexander Downer, whose leadership was quickly marred by gaffes and controversies within months. Keating routinely succeeded in outwitting Downer within Parliament, and in early 1995, Downer resigned to be replaced byJohn Howard, who had previously led the Liberals from 1985 to 1989. Howard was able to give the Coalition renewed momentum after Labor lost the seat ofCanberra in aby-election. In contrast to Hewson, Howard adopted a "small target" campaign strategy for the1996 election, publicly committing to keep numerous Labor reforms such asMedicare, and defusing the republic issue by promising to hold aconstitutional convention.[92] This combined with a narrative of "time for a change" led to a heavy defeat for the Keating government on 2 March 1996, suffering a five percenttwo party preferred swing and losing 29 seats, making it the second-worst defeat of a sitting government in Australian history. Keating announced he would retire as Labor Leader and from Parliament, and tendered his resignation as prime minister on 11 March, 13 years to the day afterBob Hawke had first taken office.[93]
After leaving Parliament in 1996, Keating moved to the affluenteastern Sydney suburb ofWoollahra.[94] He accepted appointment as a director for various companies, and also became a senior adviser toLazard, an investment banking firm.[95][96] Keating was appointed to the advisory council to theChinese Government Development Bank.[97] He was also appointed a visiting professor of public policy at theUniversity of New South Wales and was awardedhonorary doctorates in law fromKeio University in Tokyo (1995), theNational University of Singapore (1999), the University of New South Wales (2003) andMacquarie University (2012).[93] In 1997, Keating declined appointment in theAustralia Day Honours as aCompanion of the Order of Australia, an honour which has been offered to all former prime ministers since the modernAustralian Honours System was introduced in 1975.[93] On his refusal, Keating expressed that he had long believed honours should be reserved for those whose work in the community went unrecognised and that having been prime minister was sufficient public recognition.[98]
In 2000, Keating published his first book since leaving office,Engagement: Australia Faces the Asia-Pacific, which focused on foreign policy during his time as prime minister.[99] In 2002, Keating's former speechwriter and adviser,Don Watson, publishedRecollections of a Bleeding Heart: A Portrait of Paul Keating PM. The book first drew criticism from Keating's by then-estranged wife,Annita Keating, who said that it understated her contribution, a complaint Watson rejected.[100] Keating himself was so unhappy with the book that it brought the two men's friendship to an abrupt end.[101]
Keating initially avoided public political comment during the Howard government, although made occasional speeches criticising his successor's social policies. Ahead of the2007 election, Keating joined former Labor Prime MinistersGough Whitlam andBob Hawke to campaign against Howard, describing Howard as a "desiccated coconut" who was "Araldited to the seat", as an "...oldantediluvian 19th century person who wanted to stomp forever...on ordinary people's rights to organise themselves at work...he's a pre-Copernicanobscurantist".[102] He also described Howard's deputy,Peter Costello, as being "all tip and no iceberg" when referring to an alleged pact made by Howard to hand the leadership over to Costello after two terms.[103]
In February 2008, after Labor's victory in the 2007 election, Keating joined former prime ministers Whitlam, Fraser and Hawke inParliament House to witness new prime ministerKevin Rudd deliver theNational Apology to theStolen Generations.[104] In August 2008, he spoke at the book launch ofUnfinished Business: Paul Keating's Interrupted Revolution, authored by economist David Love. Among the topics discussed during the launch were the need to increase compulsory superannuation contributions, as well as to restore incentives for people to receive their superannuation payments in annuities.[105]
In 2013, Keating took part in a series of four-hour-long interviews withKerry O'Brien which were broadcast on theABC in November of that year. The series covered Keating's early life, his entry into Parliament, his years as treasurer and prime minister, and canvassing his academic, musical and artistic interests, economic and cultural vision for Australia, and commitment to Australia's integration into Asia. O'Brien used these conversations as the basis for a 2014 bookKeating: The Interviews. Keating repeatedly declared he would not write a memoir, so his cooperation with O'Brien was perceived as the closest he would come to producing an autobiography.
In 2016, Troy Bramston, a journalist forThe Australian and a political historian, wrote an unauthorised biography that Keating cooperated with titledPaul Keating: The Big-Picture Leader. Bramston was given full access to Keating's personal papers, was granted a series of interviews with Keating and also interviewed more than 100 other people. It was described as the "authoritative" and "definitive" Keating biography written by a "first class" political historian.[106]
During the2015 New South Wales state election, Keating gave his support for the privatisation agenda of the Liberal government and slammed the Labor Party for its anti-privatisation position.[107]
In 2019, during campaigning for that year'sfederal election, Keating spoke out against theAustralian Security Intelligence Organisation by calling them "nutters".[108] His remarks attracted media criticism, and Labor leaderBill Shorten distanced himself from Keating's views.[109] Keating later issued a joint statement withBob Hawke endorsing Labor's economic plan as part of the election campaign, and condemning the Liberal Party for "completely [giving] up the economic reform agenda". They stated that "Shorten's Labor is the only party of government focused on the need to modernise the economy to deal with the major challenge of our time: human induced climate change"; it was the first joint press statement released by the two since 1991.[110] After Hawke's death in the same month, Keating gave an address at Hawke'sstate memorial service atSydney Opera House on 14 June, where he reflected on the "great friendship and partnership" the two had enjoyed.[111]
In September 2021, following the announcement of theAUKUS trilateral military alliance between the United States, United Kingdom and Australia, Keating criticised the alliance, saying that "Australia turns its back on the 21st century, the century of Asia, for the jaded and faded Anglosphere" and the deal would be "locking the country and its military forces into the force structure of the United States by acquiring US submarines". Keating went on to criticise Labor's opposition foreign affairs spokespersonPenny Wong, accusing the Labor opposition of being complicit with the Liberal government in "false representation of China's foreign policy".[112] His comments were criticised by Labor MPsAnthony Byrne andPeter Khalil.[113]
In January 2022, Keating accused British foreign secretaryLiz Truss of making "demented" comments about Chinese military aggression in the Pacific, saying that "Britain suffers delusions of grandeur and relevance deprivation."[114] In 2023, Keating went on to call the AUKUS pact "the worst deal in all history" and lambasting the Labor government for being "incompetent" and stating that the decision was the worst by a Labor government sinceBilly Hughes attempted to introduce conscription during World War I.[115]
In 2024, Keating criticizedAUKUS, claimedTaiwan is "Chinese real estate", and that Taiwan is comparable toTasmania.[116] In December 2024, Keating sold his shareholding inBoost Mobile for $40 million, having co-founded the business in 2000 with an investment of $500,000.[117][118]
In 1972 Keating announced his engagement to fashion consultant Kristine Kennedy, but they did not marry.[119]
On 17 January 1975, Keating marriedAnnita van Iersel, a Dutch-born flight attendant forAlitalia.[120][121] They had four children, who spent some of their teenage years inThe Lodge, the prime minister's official residence inCanberra. The couple separated in November 1998. While they did not formally divorce until 2008,[citation needed] Annita had resumed her maiden name long before then.
In the early 1970s, Keating moved from the family home in Bankstown when he purchased a new brick-veneer house at 12 Gerard Avenue,Condell Park, two doors up from his parents' new home at No. 8 Gerard Avenue.[122] This became the family home after his marriage in 1975 until 1983, when the Keatings sold the property for $123,000 and moved to a one-storey rental house in the Canberra suburb ofRed Hill, to be closer to work.[123][124][125]
Since 1999 and as of 2013[update], Keating's partner was the actressJulieanne Newbould.[126]
Keating is a Catholic, having been raised in a Catholic family and has been described as a "conventional Christian".[14] Catholic social teaching and egalitarianism featured in many of his political views, including his support for anAustralian republic.[127]
Keating's interests include the music ofGustav Mahler and collecting Frenchantique clocks.[16][128] He currently resides inPotts Point, in inner-city Sydney, and has a holiday home on theHawkesbury River.[129][130]
Keating was formerly the patron of theCanterbury-Bankstown Bulldogs in theNational Rugby League.[131]
Keating's daughter, Katherine Keating, is a former adviser to former New South Wales MinisterCraig Knowles as well as formerNew South Wales PremierBob Carr. In 2019 she attracted press attention over her friendship withGhislaine Maxwell, former partner of American financier and child sex offenderJeffrey Epstein.[132]
In 2005,Keating!, a musical based on Keating's life and career, premiered at theMelbourne International Comedy Festival. It went on to run until 2010, winning a number of awards and being broadcast onABC2.[133]
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| Parliament of Australia | ||
|---|---|---|
| Preceded by | Member for Blaxland 1969–1996 | Succeeded by |
| Political offices | ||
| Preceded by | Minister for Northern Australia 1975 | Succeeded by |
| Preceded by | Treasurer of Australia 1983–1991 | Succeeded by |
| Preceded by | Deputy Prime Minister of Australia 1990–1991 | Succeeded by |
| Preceded by | Prime Minister of Australia 1991–1996 | Succeeded by |
| Party political offices | ||
| Preceded by | President of the New South Wales Labor Party 1979–1983 | Succeeded by |
| Preceded by | Deputy Leader of the Labor Party 1990–1991 | Succeeded by |
| Preceded by | Leader of the Labor Party 1991–1996 | Succeeded by |
 | ||
First Keating ministry (1991–93) | ||
|---|---|---|
Prime Minister:Paul Keating | ||
| Cabinet |  | |
| Outer Ministry | ||
| Parliamentary Secretaries | ||
