Former treasurer Matt Kean quits parliament

NSW Liberal MP Matt Kean has announced he will exit Macquarie Street after 13 years but has ruled out vying for a federal seat ahead of the next election, saying he intends to pursue a career in the energy and climate industry.

Kean, who was the deputy Liberal leader and served as treasurer before the Coalition’s election loss in 2023, said the decision to quit politics had been made over the weekend after thinking about the prospect for a “long time”.

Former treasurer Matt Kean.Credit: Flavio Brancaleone

“I’ll be retiring from parliament. I wanted to take this opportunity to, firstly, let people know that I won’t be running for federal parliament. I am intending on pursuing a career in the private sector,” he said at a press conference at parliament on Tuesday afternoon.

“I feel I made significant changes or positive changes in the energy policy in my time as the minister. So I intend on continuing to try and make an impact in the energy industry in the private sector.”

Kean made his announcement just five hours after Treasurer Daniel Mookhey handed down his second budget, using the opportunity to spray his successor, accusing him of delivering “the worst NSW budget in modern history”.

“Nothing can overshadow Daniel Mookhey’s shocking budget. A decade of deficits is what he’s delivered,” he said.

“It’s only taken 18 months for him to break the budget. Rather than take responsibility for his failed policies, he’s tried to blame everyone else. … I mean, the next excuse we’re going to hear is ‘The dog ate my surplus’.”

As he announced his departure, Kean was joined by his partner Wendy and son, Tom, 4, along with Liberal leader Mark Speakman, MPs Felicity Wilson and Eleni Petinos, and NSW Liberal Party state director Richard Shields. He did not intend on returning to parliament for the August sitting week.

Kean declined to say whether he had spoken to any companies, only saying repeatedly he did not have “anything finalised”.

“Nothing’s been finalised ... I’ll have discussions that I’m looking forward to opportunities that might come in the private sector to drive the energy transition,” he said.

“What I’ll always do is fight for lower energy prices, fight for a better outcome for our economy, fight for a better environment. That’s what I’ve done my entire career.”

He did not nominate a successor for his safe seat of Hornsby, saying it was a matter for Liberal Party branch members. His sudden resignation surprised many, with insiders believing it was Kean’s long-time colleague and former premier Dominic Perrottet who would be the first Liberal MP to announce their exit.

Kean was elected as the member for Hornsby in the Coalition’s 2011 landslide election win. He made his name after being appointed by former premier Gladys Berejiklian to the environment portfolio initially before being handed responsibility for energy and climate.

As the climate wars embroiled his federal Coalition counterparts, Kean managed to drive the NSW government to an ambitious emissions reduction target, earning the ire of the conservatives and some of his colleagues in Canberra.

Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.