He thanked Australians for giving him the opportunity to serve as treasurer for 12 years.
"I've tried to make our country a better place and make a contribution to it," he told ABC News 24.
"We all do that in our own little ways, and to - along with other Australians - be recognised for that, is a deeply humbling experience."
"I think anyone who's recognised in the Order of Australia feels immensely privileged and honoured by it," he added."
I was appalled that the smirking fascist, Peter Costello; whose alleged economic reforms were designed to shift the tax burden away from corporate mates and onto the shoulders of the most vulnerable low income people; whose manipulation of the housing market (kept secret from journalists) helped to create an unsustainable housing bubble; and whose exhortations to have another baby for the country was one of the most irresponsible political ploys in history.
It must not be forgotten that Peter Costello stood by John Howard throughout the implementation of 98% of Pauline Hanson's racist agenda, the vilification of Muslims (Costello joined in), the Anti Terrorism legislation, the making of aggressive war and the intentional psychiatric harm of asylum seekers locked away in the desert behind razor wire, a collective punishment that should be named as a crime against humanity.
Watch out! This attempt to honour Peter Costello, HR Nicholls Society extremist, is the thin end of the wedge for the rehabilitation of the discredited Howard Ministry. Next you will see Phillip Ruddock given something or other and finally a knighthood for the villain himself. Don't let them!