Cormann says hasta la vista to politics
FEDERAL Finance Minister Mathias Cormann will quit politics at the end of the year after telling the Prime Minister it’s the right time to transition.
The West Australian Senator confirmed on Sunday morning his intention to retire and said he had advised Prime Minister Scott Morrison the end of 2020 would be the appropriate time for an “orderly transition” in his portfolio.
Senator Cormann had decided not to recontest the next election and there had been speculation recently he was considering his future.
He was elected in June 2007 and has served as Australia’s Finance Minister for seven years under three prime ministers. His resignation will spark a Cabinet reshuffle for the Federal Government.
“I can honestly say that I have left nothing on the field,” Senator Cormann said in a statement.
“By the end of this year we will be halfway through this current term of government.
“Before handing over the baton, there is another six months or so of hard work to be done in this job, to help manage a responsible transition out of this coronavirus-induced crisis and to help finalise and set in train our five-year plan to maximise the strength of our economic and jobs recovery.”
Senator Cormann said he was not going anywhere just yet and between now and the end of the year he would be working with the Prime Minister, Treasurer Josh Frydenberg on finalising the July Economic Statement, the Budget in October and the half-yearly Budget update in December.
He said serving as Finance Minister and a West Australian Senator had been “one of the greatest privileges” of his life. “Making this decision has been made easier by the knowledge that the government of our country is in very good hands,” Senator Cormann said.
Mr Frydenberg paid tribute to Senator Cormann on Twitter: “As (Australia’s) longest serving Finance Minister, he’s strengthened our economy, preparing it for the challenges we now face.”
The 49-year-old was born in Belgium and migrated to Australia after visiting Perth in 1994. He became an Australian citizen on Australia Day in 2000.