Paul Keating

Paul John Keating (born 18 January 1944) is an Australian former politician and trade unionist who served as the 24th prime minister of Australia and leader of the Labor Party from 1991 to 1996. He previously served as treasurer from 1983 to 1991 and as deputy prime minister from 1990 to 1991 under the prime ministership of Bob Hawke.

Born in Sydney, Keating left school at the age of 14. He joined the Labor Party at the same age, serving a term as State president of Young Labor and working as a research assistant for a trade union. He was elected to the Australian House of Representatives at the age of 25, winning the division of Blaxland at the 1969 federal election. He was briefly minister for Northern Australia from October to November 1975, in the final weeks of the Whitlam government - along with Doug McClelland, he is the last surviving minister who served under Gough Whitlam. After the Dismissal removed Labor from power, he held senior portfolios in the Shadow Cabinets of Whitlam and Bill Hayden. During this time he came to be seen as the leader of the Labor Right faction, and developed a reputation as a talented and fierce parliamentary performer.

After Labor's landslide victory at the 1983 election, Keating was appointed treasurer by prime minister Bob Hawke. The pair developed a powerful political partnership, overseeing significant reforms intended to liberalise and strengthen the Australian economy. These included the Prices and Incomes Accord, the float of the Australian dollar, the elimination of tariffs, the deregulation of the financial sector, achieving the first federal budget surplus in Australian history, and reform of the taxation system, including the introduction of capital gains tax, fringe benefits tax, and dividend imputation. He also became recognised for his sardonic rhetoric, as a controversial but deeply skilled orator. Keating became deputy prime minister in 1990, but in June 1991 he resigned from the ministry to unsuccessfully challenge Hawke for the leadership, believing he had reneged on the Kirribilli Agreement. He mounted a second successful challenge six months later, and became prime minister.