Revamped Albanese cabinet provides continuity and fresh faces

Australia’s largest accounting association, CPA Australia, today welcomes the appointment of several new faces to the Treasury portfolio to bolster the reappointments of Dr Jim Chalmers as Treasurer, Dr Andrew Leigh as Assistant Minister for Productivity, Competition, Charities and Treasury, and Katy Gallagher as Finance Minister.

CPA Australia CEO Chris Freeland AM said today’s cabinet announcements by Prime Minister Anthony Albanese provided continuity for the accounting and business sectors and the opportunity for the government to make swift progress on strengthening the economy.

“CPA Australia believes the second Albanese Government and Dr Chalmers have a once-in-a-generation opportunity to reform and rebuild the economy,” he said.

“Dr Chalmers’ stated focus on improving productivity in this new term is vital to boosting Australia’s prosperity. Consultation with business and experts is critical, and we look forward to working with the Treasurer and his colleagues on measures that will revitalise business, deliver tax reform, reduce regulatory burden and repair the Budget.”

Mr Freeland welcomed the appointment of Dr Daniel Mulino as Assistant Treasurer and Minister for Financial Services, replacing Stephen Jones, who retired at the last election.

“We look forward to continuing our relationship with Dr Mulino, who served as Chair of the House of Representatives Standing Committee on Economics and as a member of the Parliamentary Joint Committee on Corporations and Financial Services in the previous term of the Albanese Government,” Mr Freeland said.

He also welcomed the appointment of Dr Anne Aly as Minister for Small Business.

“The best outcomes always flow from open and thorough consultation, the development of meaningful fit-for-purpose solutions and a desire to roll back unnecessary regulations that constrain business productivity and jobs growth,” Mr Freeland said.

“Advisers and accounting professionals are critical to the implementation of the government’s reforms including Payday Super, not-for-profit reporting, AML/CTF obligations and standard-setting for financial and accounting standards.

“The accounting profession is well equipped to provide its expertise to discussions on a wide range of critical topics including tax reform and tax administration, deregulation, retirement savings and financial advice, incentives for business, especially SMEs, and sustainability reporting.”

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