Kooyong ambition put on the shelf by Josh Frydenberg

Josh Frydenberg has shelved ambitions to return to Canberra via his old seat of Kooyong.

Former treasurer and Kooyong MP Josh Frydenberg. Picture: Arsineh Houspian

Josh Frydenberg has cleared the path for a relative of a former Victorian premier to contest Kooyong for the Liberal Party but privately left open the option of returning to politics.

The former federal deputy leader confirmed on social media he would not be contesting the seat amid heightened speculation of a possible pre­selection challenge against 31-year-old Amelia Hamer.

Mr Frydenberg has been under internal pressure to contest the seat, held by teal Monique Ryan, to help better sell the Coalition’s economic narrative.

If Mr Frydenberg does return to politics, it will be with the aim of leading the party to an election win.

Ms Hamer, a banker and academic, has been endorsed by the Victorian Liberals to contest Kooyong at the next election; she is the grand-niece of former Victorian premier Dick Hamer, who led the state from 1972 to 1981.

In a brief statement, Mr Frydenberg said: “Re the recent speculation about Kooyong: I am not rushing back to politics; my position on contesting the next election remains unchanged. I will continue to support the Liberal Party and our local candidate, Amelia Hamer.”

Those close to Mr Frydenberg were speculating that he could seek to reopen nomin­ations after last week’s revised electoral boundaries significantly altered the inner-eastern Melbourne seat of Kooyong by also abolishing neighbouring Higgins, currently held by Labor.

Kooyong remains in the hands of the teals and is likely to be a tough seat for the Liberal Party to regain after just one parliamentary term.

Ms Ryan has a significant war chest and is already advertising in Kooyong, backing a cut to HECS fees for tertiary students.

Swinburne University, where Ms Hamer lectures, is at the heart of what locals describe as the “new Kooyong”, which has swung Left in key parts of the seat closest to the Yarra River.

However, there are mixed messages in the electorate, with the Liberal Party managing to win back the state seat of Hawthorn at the last election and retain Kew, despite predictions it could fall.

Mr Frydenberg, 52, is chair of Goldman Sachs’ Australian business and has a young family.

He won Kooyong four times from 2010 but was defeated in 2022 amid anger in Victoria about former prime minister Scott Morrison.

Liberal strategists are still anxious over whether Liberal leader Peter Dutton will fare any better in Victoria, which has backed Labor for years.

However, the smashed Victorian budget has raised questions about how long Labor can hold on to its high tide of support.

While Mr Frydenberg is backed by many Liberals, former premier Jeff Kennett was strong in his opposition to him running again for Kooyong when a strong female candidate had been chosen.

Mr Kennett tweeted on Monday: “Well done Josh. Allows the opposition to focus on the next election. Amelia Hamer to represent the future of our country. Well-educated, committed, and will represent the interests of young Australians. A potential MP of conviction, unlike the present MP who runs from the chamber.’’

Mr Frydenberg’s decision not to run will raise questions about how much the Liberal Party can raise in Victoria – Mr Frydenberg was one of the biggest fund­raisers for the Liberal Party until he lost his seat.