Hume MP Angus Taylor named treasurer in Peter Dutton’s shadow ministry

Leader of the opposition Peter Dutton has announced a new shadow cabinet on Sunday, including homegrown politician, Angus Taylor, as Shadow Treasurer. What do you think of the decision? Have your say in our poll.

Hume MP Angus Taylor has earned himself a top spot on the opposition front bench announced by the new Coalition leader Peter Dutton.

The homegrown politician based in Goulburn served as the Minister for Industry, Energy and Emissions Reduction under the Morrison Government and was voted back in for a fourth term at the May 21 election.

Mr Dutton announced the members of the shadow ministry on Sunday alongside newly-elected Nationals leader David Littleproud.

The shadow cabinet is made up of 24 members and includes 10 women and six members of the Nationals.

Mr Taylor said he was “humbled and honoured” to serve as Shadow Treasurer and would be focusing on “the aspirations of hardworking Australian families” and small businesses across the regions, the suburbs and the cities.

“I appreciate that I am taking on this role at a turbulent and increasingly uncertain time for the global economy,” he said.

Angus Taylor. Picture: NCA NewsWire / Gary Ramage

“The last parliament was confronted with extraordinary challenges from bushfires, floods, a global health and economic crisis, and more recently, the Russia-Ukraine war which is fueling a global economic downturn.

“During this time, the Coalition stepped up and provided unprecedented economic support to keep Australians in their jobs, to support those unable to work and to keep small businesses alive.”

Mr Taylor said the measures implemented by the former government supported Australia to emerge from Covid-19 in a “world-leading position”.

However, he added, the time had passed for “these kinds of government interventions” and the budget needed to be restored to a more sustainable footing due to rising inflation.

“The Coalition has given the Labor Party the toolkit it needs to continue Australia’s strong economic position with record low unemployment, strong GDP growth, historically low interest rates and the largest turn around to the budget bottom line in 70 years,” he said.

Angus Taylor. Picture: NCA NewsWire / David Mariuz

Mr Taylor said Labor’s $18.3 billion in promised extra spending and $45 billion in off-budget funds risks stoking inflation and putting at risk Australia’s credit rating.

“If Australia’s credit rating goes down, Australian families’ mortgage payments will go up – it’s that simple,” he said.

“We will hold Labor to account to ensure its heavy-handed approach does not lead to higher inflation, higher interest rates, higher taxes, or further drive-up prices for households and small businesses.

“As Shadow Treasurer, I will consult with business, industry and experts on how we can work together to secure Australia’s prosperity, and support small businesses and aspirational, hardworking families. Strong economic management is essential for Australians to realise their aspirations.”