Fed: PM, Treasurer to do what's best for party in leadership

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Fed: PM, Treasurer to do what's best for party in leadership

CANBERRA, Aug 5 AAP - Treasurer Peter Costello today said he and Prime Minister JohnHoward would do what was in the best interests of the Liberal Party when it came timeto handing over the leadership.

Mr Howard dealt Mr Costello a massive blow when he announced in June he would stayon as Liberal leader while it remained in the party's interests.

There had been speculation that Mr Howard would consider retirement around his 64thbirthday last month and ensure a smooth leadership transition to Mr Costello.

Mr Costello today said he had had several discussions with the prime minister about the issue.

"Obviously I've spoken to him about the party and about the future," Mr Costello toldSydney radio 2GB.

"I think it's our responsibility to make sure that the party's put in the best statepossible to form government and to run the country.

"Both of us want to do what's in the interests of the party and the government and the country."

Mr Costello said he would remain focussed on the job of treasurer.

"He's made his decision and that having been made, we've got to make sure we get onwith the job of governing the country and governing it well," he said.

"I think it's important to concentrate on the job you're doing."

Mr Costello said treasurers tended to become the tough guys of government because ofthe nature of Budgets.

But he found other issues stimulating.

"When you get the chance and I do from time to time to talk about other non-economicissues, actually I find it very stimulating."

AAP sal/sb/ldj/jlw

KEYWORD: LEADERSHIP