Treasurer of Australia

Treasurer of Australia
Treasurer of Australia
Incumbent
Wayne Swan

since 3 December 2007
Style The Honourable
Appointer Prime Minister of Australia
Inaugural holder Sir George Turner
Formation 1901

The Treasurer of Australia is the minister in the Government of Australia responsible for government expenditure and revenue raising. He is the head of the Department of the Treasury. The Treasurer plays a key role in the economic policy of the government. By strong Constitutional convention, the Treasurer is always a member of the Parliament of Australia with a seat in the House of Representatives. In some other countries the equivalent role is the Minister for Finance, although Australia has a separate office of that name responsible for regulating government spending.

The Department of the Treasury, Canberra

Each year in May, the Treasurer presents the Federal Budget to the Parliament. The Treasurer is a very senior government post; traditionally, the holder of this office is the Deputy Prime Minister or in the case of the Liberal/National coalition, the deputy leader of the dominant political party holding government. Being Treasurer is often seen by the Canberra Press Gallery and the public as a necessary stepping-stone to the Prime Ministership;[citation needed] however, only six Prime Ministers have served as Treasurer before ascending to higher office.

Wayne Swan is the current Treasurer of Australia. The immediately preceding Treasurer, Peter Costello, held the portfolio for a record term.

List of Australian Treasurers

  • Treasurers Watson, Fisher, Scullin, Lyons, Menzies, Chifley, Whitlam and Hawke were also Prime Minister during some or all of their period as Treasurer.

Notes

  1. ^ From 3 June 1991 to 20 December 1991 Paul Keating was in the backbench after failing to defeat Bob Hawke in a caucus ballot for the prime ministership.
  2. ^ Hawke held the portfolio for only one day, 3–4 June 1991.

External links


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