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The Prime Minister has unveiled the next Financial Services Minister and members of his cabinet and outer ministry.
Prime Minister Anthony Albanese has today (12 May) unveiled the new line-up of his cabinet and outer ministry, including the financial services portfolio.
Following a landslide Labor win in the federal election on 3 May (Labor currently has 92 seats in the House of Representatives but some seats are yet to be called), Prime Minister Anthony Albanese has now unveiled who will be joining him in cabinet and outer ministries.
Dr Daniel Mulino MP has been named the new Assistant Treasurer (to Treasurer Jim Chalmers) and Minister for Financial Services.
His responsibilities will encompass overseeing the nation’s financial services sector – including broking – navigating the current economic landscape and implementing the government’s financial agenda. He will work closely with Finance Minister Katy Gallagher.
Mulino, who is the member for Fraser, has had some dealings with the industry before, including in his role as chair of the House standing committee on economics.
He takes over the portfolio from Stephen Jones MP, who announced in January that he would not be seeking re-election.
Prior to entering Parliament, Mulino had worked in local politics, first in Victoria in 2014 before transitioning to the federal level in 2019.
He also worked as a lawyer at the Attorney-General’s Department, a policy adviser at the Department of Finance, and an economist at the Independent Pricing and Regulatory Tribunal. He has a doctorate in macroeconomics from Yale University.
Addressing the media on Monday, Albanese said the new Financial Services Minister was “terrific” and noted his strong track record in the economics team.
“He has a PhD in economics from Yale. That is handy,” he told journalists.
Mulino will be sworn in during a ceremony on Tuesday morning (13 May).
Cabinet members and outer ministry appointments
The Prime Minister announced his cabinet will retain several key figures: Richard Marles as Deputy Prime Minister and Minister for Defence, Penny Wong as Foreign Affairs Minister, Jim Chalmers as Treasurer, and Katy Gallagher as Minister for Finance, Public Service, Women and Government Services.
Don Farrell will continue as Minister for Trade and Tourism, and Special Minister of State and Tony Burke will continue as Minister for Home Affairs, Immigration and Citizenship, Cybersecurity, and the Arts
Clare O’Neil will take on the newly combined role of Minister for Housing, Homelessness, and Minister for Cities.
The Prime Minister also confirmed several other key ministerial appointments.
Mark Butler will continue his work as the Minister for Health and Aged Care, with the added responsibilities of disability and the NDIS.
The portfolios of climate change and energy will be helmed by Chris Bowen, while Catherine King will oversee infrastructure, transport, regional development and local government.
Amanda Rishworth will take on the role of Minister for Employment and Workplace Relations, and Jason Clare will lead the Education portfolio.
Michelle Rowland has been appointed as the new Attorney-General (taking over from Mark Dreyfus).
Tanya Plibersek will be responsible for social services, and Julie Collins will serve as the Minister for Agriculture, Fisheries and Forestry.
The resources and Northern Australia sectors will be under the guidance of Madeleine King, while Murray Watt will be the Minister for the Environment and Water.
Malarndirri McCarthy will continue her work as the Minister for Indigenous Australians.
The communications and sports sectors will be overseen by Anika Wells, and Pat Conroy will serve as the Minister for Defence Industry and Minister for Pacific Island Affairs.
Two new faces enter the cabinet: Anne Aly as the Minister for Small Business (previously held by Julie Collins). She will also hold the portfolios of Minister for International Development and Multicultural Affairs. Tim Ayres joins the cabinet as the Minister for Industry and Innovation and Minister for Science.
In the outer ministry, Matt Keogh will continue his responsibilities as the Minister for Veterans’ Affairs and Defence Personnel. Kristy McBain takes on the role of Minister for Regional Development, Local Government and Territories and will also serve as the Minister for Emergency Management.
Andrew Giles will be the Minister for Skills and Training, and Jenny McAllister will focus on the National Disability Insurance Scheme.
Rounding out the confirmed appointments, Jess Walsh will be the Minister for Early Childhood Education and Youth, and Sam Rae will serve as the Minister for Aged Care and Seniors.
At 57 per cent women, it is believed that the new Labor ministry has the largest proportion of female representation ever.
Elsewhere, Andrew Leigh takes on the position of Assistant Minister for Productivity, Competition, Charities and Treasury, alongside several other assistant ministers.
The Prime Minister also announced the appointment of several special envoys to address specific policy areas.
Josh Burns MP will address social housing and homelessness, Marion Scrymgour MP will advocate for remote communities, and Kate Thwaites MP will focus on climate change adaptation and resilience.
In addition, Susan Templeman MP will champion the arts in her new role as special envoy, while Luke Gosling OAM MP will be special envoy for defence, veterans’ affairs, and northern Australia.
Dan Repacholi MP will tackle men’s health in his position as special envoy, and Tim Watts MP will dedicate his efforts to Indian Ocean affairs.
The Prime Minister said there will be a full ministry meeting in Parliament House on Tuesday following the swearing in.
[Related: What to expect from the new government]
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