Costello to hit the books

FEDERAL Liberal party heavyweight Peter Costello will spend two days a fortnight going through Queensland's books.

The former federal treasurer has been appointed by new Premier Campbell Newman to audit the state's finances.

Mr Costello, who served as John Howard's treasurer from 1996 to 2007, is expected to deliver an interim report back to Mr Newman by June 15 ahead of the new Government's budget.

Mr Costello will be head of a commission to audit with outgoing Queensland Investment Corporation chief executive Dr Doug McTaggart and vice-chancellor of James Cook University Prof Sarah Harding.

Mr Newman has said he is planning to recover Queensland's AAA credit rating that was lost in 2009.

Mr Newman appointed a number of former Brisbane City Council colleagues and LNP members to head State departments.



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