Paul Keating

The Honourable Paul Keating
Official portrait c. 1994
24th Prime Minister of Australia
In office 20 December 1991 – 11 March 1996
Monarch	Elizabeth II
Governors General	Bill Hayden Sir William Deane
Deputy	Brian Howe Kim Beazley
Preceded by	Bob Hawke
Succeeded by	John Howard
14th Leader of the Labor Party
In office 19 December 1991 – 19 March 1996
Deputy	Brian Howe Kim Beazley
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 the Australian Parliament for Blaxland
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 80) Darlinghurst, New South Wales, Australia
Political party	Labor
Spouse	Annita van Iersel ​ ​ (m. 1976; div. 2008)​ [citation needed]
Domestic partner	Julieanne Newbould (1999–present)
Children	4
Residence(s)	Potts Point, New South Wales, Australia
Education	De La Salle Catholic College Belmore Technical College
Profession	Trade unionist Politician
Signature
Website	paulkeating.net.au
Paul Keating's voice Keating on the floating of the dollar 12 December 1983

This article is part of a series about Paul Keating
Early life President of New South Wales Young Labor Member for Blaxland (1969–1996) Minister for Northern Australia Shadow Minister for Minerals, Resources and Energy Treasurer of Australia Floating the Australian dollar Financial deregulation Deputy Prime Minister of Australia This is a recession that Australia had to have June 1991 Labor Party spill December 1991 Labor Party spill Prime Minister of Australia Term of government (1991–1996) Native Title Act 1993 Redfern Park Speech Superannuation Guarantee Enterprise bargaining Privatisation of Qantas and the Commonwealth Bank Detention centres Creative Nation One Nation Republic Advisory Committee Ministries First Ministry Second Ministry Elections 1993 1996
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Paul John Keating (born 18 January 1944) is an Australian former politician who served as the 24th prime minister of Australia from 1991 to 1996, holding office as the leader of the Labor Party (ALP). He previously served as treasurer under Prime Minister Bob Hawke from 1983 to 1991 and as the seventh deputy prime minister from 1990 to 1991.

Keating was born in Sydney and 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 election. Keating briefly was minister for Northern Australia from October to November 1975, in the final weeks of the Whitlam government. After the Dismissal removed Labor from power, he held senior portfolios in the Shadow Cabinets of Gough 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.^[1][2] Keating became deputy prime minister in 1990, but in June 1991 he resigned from the government 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.

Keating was appointed prime minister in the aftermath of the early 1990s economic downturn, which he had famously described as "the recession we had to have". This, combined with poor opinion polling, led many to predict Labor was certain to lose the 1993 election, but Keating's government was re-elected in an upset victory. In its second term, the Keating government enacted the landmark Native Title Act to enshrine Indigenous land rights, introduced compulsory superannuation and enterprise bargaining, created a national infrastructure development program, privatised Qantas, Commonwealth Serum Laboratories and the Commonwealth Bank, established the APEC leaders' meeting, and promoted republicanism by establishing the Republic Advisory Committee.

At the 1996 election, after 13 years in office, his government suffered a landslide defeat to the Liberal–National Coalition, led by John Howard. Keating resigned as leader of the Labor Party and retired from Parliament shortly after the election, with his deputy Kim Beazley being elected 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 the China Development Bank from 2005 to 2018.

As prime minister, Keating performed poorly in opinion 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, although ratings 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 famous Redfern Park Speech on the impact of colonisation in Australia and Aboriginal reconciliation.^[8]