Former Victorian Premier (and unplaced election favourite) Jeff Kennett says Treasurer Peter Costello would not necessarily assume leadership of the party should the ALP take government after tomorrow's poll.

"If we just lose, then I have no doubt that Peter Costello would take over the leadership and do a very good job," Mr Kennett said. "If it's a landslide - and I mean a landslide - I think that'd change the landscape quite dramatically."

That's why they call them landslides, I guess.