The former premier has never left the headlines since he left office, writes Lawrence Money.
AT 64, Jeff Kennett still froths and bubbles with energy and ideas. Here's one straight from his major-projects drawing board: a fast underground railway serving the greater metropolitan area. "I thought when we built the freeway tunnels, that had fixed the traffic problem, but they are too small already," he says. "We should be doing work now for a new underground system like Moscow or Paris. For example, Cranbourne to Melbourne in 20 minutes nonstop. It would cost billions but in 50 years' time that might seem cheap."
Kennett was one of Victoria's most outspoken premiers and that shock election loss in 1999 has barely quietened him at all. As chief of depression initiative beyondblue, as a Hawthorn footy club president, as a feisty radio and newspaper commentator, Kennett has been almost as visible as he was during his seven spine-tingling years in office.
His name has appeared in the Australian press more than 120 times in the past month, more than 500 times in the past six months, and the headlines are everywhere: "Jeff slams prayer room push", "Jeff's right about apartments", "Kennett reversal on gay parenting".
Yes, he did a back-flip on that hot potato, evoking memories of his rare ability as premier to generate uproar.
After all, this is the leader who inspired the Scared Weird Little Guys to produce the song that blamed him for everything including the Titanic, Bloody Jeff.
All these years later, people still like to blame Bloody Jeff. A radio caller recently claimed Kennett was responsible for a regulation that gags government-school teachers from public comment.
"I'm not sure that's right," says Kennett, "but it's good to be the whipping dog if that makes people feel better, I'm very happy. The other side to that is that we got the state back in great shape, which was a benefit for the following governments."
Jeff Kennett still has that impish streak that saw him, as an 18-year-old university student in Canberra, sit in a wheelchair swathed in bandages in Northbourne Avenue in 1966, hoping visiting US president Lyndon Johnson would notice him in the crowd. "He didn't," recalls Kennett, "the motorcade went by the back route."
Retirement is not on his radar. "Retirement equates with death," he says. "You have to stay mentally and physically active." Kennett was aged 44 when he swept to power in 1992, winning in a landslide from Joan Kirner, and the changes he wrought were giddying: suburban councils merged, government utilities privatised, Docklands started, grand prix pinched from Adelaide.
But there were also many jobs axed, which led to a huge protest march through the city the same year. Kennett says politics today is a "sea of greyness" compared with his social revolution.
"People still come up to me saying that was the best time of their lives. They look back to the excitement and clear leadership we provided. They might not have agreed with everything but the contrast since then is quite dramatic."
In a Victorian capital that is now clogged with traffic and cursed by stratospheric house prices, it is tempting to ponder how Jeff the Troubleshooter would deal with the problems of today.
"Not problems, they are challenges," he says. "You just apply the principles of good management. Make sure the services you deliver are provided professionally and the other things should be jettisoned.
"The Baillieu and Swan budgets resulting in a small surplus are absolutely correct because I think the psyche of living within our means applies to government more than it applies to families."
Kennett chose not to stay in the Old Treasury Building where offices and staff are provided for former premiers. He works from a Richmond office packed with the bric-a-brac of a kaleidoscopic life paintings and sculptures (including a giant clothes peg), Hawthorn premiership posters, a collapsible bicycle and a table he had long craved from the former Channel Nine building, originally a piano factory built by Kennett's great-grandfather Hugo Wertheim. The table was there when Nine moved in and Kennett acquired it (after agreeing to appear on The Footy Show) when Nine moved out last year.
However, Jeff Kennett is not one for looking too much in the rear-view mirror. "That's one of the reasons I left Old Treasury I didn't want to be around Parliament. When your time is up, you have to move on."
He sits on the boards of six companies but says his work with beyondblue, which he founded in 2000 to tackle depression, is the most important he has ever done.
Conversely, the conflict that saw beyondblue CEO Dawn O'Neill quit last year, accusing him of bullying, was the "worst eight weeks of my life".
But 2012-vintage Kennett is a relaxed man. Having stepped down as Hawks chief, he is looking at several new projects, with one proviso: "Friday night, Saturday and Sunday are for my family and friends. We only do things we want to do and it's wonderful. That's the first time in 40 years I've given that time."
Frequently Asked Questions about this Article…
Who is Jeff Kennett and why might everyday investors care about his opinions?
Jeff Kennett is a former Victorian premier who remains highly visible in the media, chairs or sits on the boards of six companies, and founded the mental-health charity beyondblue. Everyday investors may care because former political leaders with board roles and a strong public profile can influence public debate on policy, infrastructure and corporate governance—areas that affect markets and long-term investment decisions.
What was Jeff Kennett’s infrastructure idea and how could it affect Victorian property and investment?
Kennett promoted a major fast underground rail system for greater Melbourne—an ambitious, multi‑billion-dollar project he says could transform travel times (for example, Cranbourne to Melbourne in 20 minutes). Large transport projects can shape long‑term property demand, regional development and government spending priorities, so investors tracking Victorian real estate or infrastructure should monitor whether such proposals gain political traction or funding.
How do Kennett’s comments on fiscal discipline relate to investment outlooks?
Kennett praised recent state budgets that produced a small surplus, arguing governments should ‘live within our means.’ For investors, sustained fiscal discipline can mean lower debt risks and more predictable policy settings, which often supports confidence in local markets. However, investors should look at official budgets and economic data rather than opinion alone.
Kennett sits on six company boards—does that matter for shareholders and how should investors check this?
Board membership matters because directors influence strategy, governance and risk oversight. The article notes Kennett sits on six boards but doesn’t name them, so shareholders should check company disclosures (ASX releases, annual reports and corporate governance statements) to understand his roles, potential conflicts and the impact on company direction.
What was the beyondblue controversy involving Kennett and could it affect companies he's linked to?
The article reports that beyondblue CEO Dawn O’Neill quit last year accusing Kennett of bullying—a period he called the ‘worst eight weeks’ of his life. Such high‑profile governance disputes can raise reputational and governance questions, which investors should monitor because boardroom conflicts can affect stakeholder confidence and, in some cases, company value.
Does Kennett’s ongoing media presence influence investment sentiment or markets?
Kennett appears frequently in the press and public debate, which can shape public opinion about policy, housing and infrastructure. While a former premier’s commentary alone rarely moves markets, it can influence sentiment around specific sectors (for example, property or infrastructure). Investors should separate media commentary from company fundamentals and official policy developments.
Is Jeff Kennett retired from public and corporate life, and why is that relevant for investors?
Kennett says retirement isn’t on his radar—he remains active on boards, in media and with projects, while prioritising family time. For investors, ongoing involvement by a high‑profile director means continued influence on the organisations he works with, so it’s useful to monitor announcements and governance updates from those entities.
Where does Kennett work now and what does his post‑political focus suggest about his priorities?
Kennett works from a Richmond office rather than the Old Treasury Building, fills it with memorabilia from his career, and describes his work with beyondblue as the most important thing he has done. This suggests his post‑political activities mix private sector board work, public commentary and charity involvement—information investors can use to assess the causes and companies he’s likely to prioritise.
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