GERARD RB BOARD APPOINTMENT APPROVED BY ALL CABINET: PRIME MINISTER

According to Prime Minister Howard, when Treasurer Costello suggested appointing Adelaide magnate Robert Gerard to the Reserve Bank board, the P.M. and the Cabinet thought it was a great idea.

"I thought, on the face of it, thatRobert Gerard was a great appointment" the PM told ABC-TV's Insiders program yesterday. "He as the responsible minister, put the proposal forward and I can say it was unanimously endorsed by the cabinet and, as you are all aware, the cabinet includes four senior ministers from South Australia."

Mr Gerard, one of 70 guests selected to attend PM Howard's barbeque for US President Bush in 2003, was named Australian Entrepreneur of the Year in 2004.
The Judges of the award state d that Mr Gerard was " such an enthusisiast, he drags people along with him." Four weeks, on New Years Eve, Mr Gerard dragged 200 first-class guests on the first private party on the Halliburton-constructed Adelaide-Darwin Railway on New Years Eve. Mr Gerard owns land at the junction of the Adelaide-Port Adelaide and Adelaide-Darwin railway lines.

Mr Gerard may now have succeded in dragging along Treasurer Peter Costello in his departure from public prominence. As Gerard resigned from his Reserve Bank board position last Friday Costello was battling to retain his political integrity as Federal Opposition members demanded the Treasurer's resignation for alleged negligence. The Opposition claims that Costello was aware that Gerard's repayment of $75 million to the Australian Tax office for alleged fraud was made three months after his appointment to the board of the Reserve Bank