Speculation mounts that multiple Andrews government ministers are due to announce their retirement

The Treasurer revealed his decision on whether he will run in the upcoming election, as his fellow ministers weigh up retirement.

Up to four cabinet ministers are being tipped to announce retirements from the Andrews government as early as this week as Labor prepares for the November election.

Speculation is mounting that more high-profile Labor retirements will be announced by Friday, in time for party preselections and parliament’s winter break.

Police Minister Lisa Neville and Major Events Minister Martin Pakula are two names that have been bandied around for months as likely to exit politics, but no firm announcement has been made.

Deputy Premier James Merlino was rumoured to be considering stepping away, but on Tuesday maintained he was ready to fight the election in his seat.

Martin Pakula (left) and Lisa Neville (right) are two ministers who may retire.

Rumours have also been swirling around Treasurer and Werribee MP Tim Pallas, who was understood to be on the fence about a final decision, but on Wednesday reaffirmed he would be running in the state election.

The Treasurer said repeated “rumours” about his political future continued.

“I feel like I’m the victim of ageism,” he laughed.

The exits will also trigger another round of factional horsetrading across Labor’s right and left groups.

On Tuesday, Premier Daniel Andrews responded “yes” when he asked if it was his expectation that Mr Merlino and Ms Neville would be running later this year.

Mr Merlino on Tuesday said he was still “very much engaged” in the re-election of his party on November 26.

Rumours have swirled around Treasurer Tim Pallas walking away from politics.

“I am absolutely, absolutely committed to the re-election of the Andrews government. I’ve got a lot of energy for the contest at the end of the year,” he said.

Asked if that meant he will definitely be contesting the election, Mr Merlino said: “I am the candidate for Monbulk, I am the local member, I’m deeply engaged in the election.”

“I’m not going to play the rumour game,” he added.

“I won’t respond to rumours. Rumours also included that I sold my house in the hills and moved out of the area – not true.

“I’m very much engaged in the re-election of the Andrews government.”

Mr Andrews said it was also his expectation that all of his Labor MPs would continue in their role up until November 26.

Deputy Premier James Merlino has denied rumours he was planning to retire. Picture: Luis Enrique Ascui

He added he had “no announcements” to make about reshuffles in his ministerial Cabinet “today or between now and the election”.

“These are silly questions, if I might be so bold to say that,” the Premier said.

“I don’t think you’ve got the power of knowing what’s going to happen next week, next month or next year.

“We’ll just have to wait and see.”

The retirement of senior Cabinet ministers would come after a series of high-profile exits announced late last year.

Party insiders said this would allow new ministers to become familiar with their portfolio ahead of the election.

Planning Minister Richard Wynne will not contest the November 2022 poll, nor will former Emergency Services Minister Jane Garrett.

Other Labor MPs have been pushed out by the party preselection, with former ministers Robin Scott and Marlene Kairouz losing party support to be endorsed as candidates.