Australia's new treasurer Josh Frydenberg will turn to the country's longest-serving and "greatest" treasurer Peter Costello for advice as he begins in the role.
Mr Frydenberg caught up with his Howard-era counterpart for a coffee in Melbourne's east on Saturday morning and spoke to other people having breakfast in his electorate.
The freshly-minted treasurer said he'd be "going somewhere" if he could be half as funny as Mr Costello in parliament, and vowed to seek advice from the man who delivered ten budget surpluses in his time.
"It's great to be here in Kooyong with my good friend Peter Costello, Australia's greatest treasurer ," Mr Frydenberg told reporters.
"I'll be turning to Peter for advice as I begin my role as treasurer in the Morrison government.
"I'm very pleased that as deputy leader and as treasurer I follow in his very big footsteps."
Mr Costello congratulated Mr Frydenberg on his promotion to deputy Liberal leader and treasurer, saying he was a "fantastic" appointment.
"I'm very, very pleased to see you as treasurer and I think it's a great opportunity for you and for the country," Mr Costello said.
The past and present treasurers had coffee in a corner of the busy Hawthorn cafe and on a chair beside them sat a newspaper with "SCOMO A GO-GO" splashed across the front page.
Scott Morrison became Australia's new prime minister on Friday in a Liberal leadership ballot, beating Peter Dutton in a vote to replace Malcolm Turnbull.
Mr Costello, who served as treasurer for more than a decade under John Howard's Liberal government, was asked his thoughts on the spill, which has been slammed by political opponents.
"It's just a new era," Mr Costello said outside the cafe.
"This is how things happen. The old gives way to the new."
As he left the cafe, Mr Frydenberg was asked if Tony Abbott would make a good cabinet minister, but he said he would leave that up to Mr Morrison.
