Victorian Treasurer Tim Pallas is quitting politics and resigning from his role after a decade in the job – the longest stand-alone treasurer in Victorian history.
Mr Pallas will step down from his role and quit politics altogether after 10 years as treasurer, 14 years as a minister and 18 years as an MP for Werribee, with his final day expected as soon as the end of the week.
A successor is yet to be announced.
Victorian Treasurer Tim Pallas is quitting politics. Picture: NewsWire / Aaron Francis
Mr Pallas confirmed the announcement in front of Treasury Place in Melbourne on Monday morning, explaining the state government requires a “new perspective”.
“You don’t get good government without accountability,” he said, admitting he “maybe got a bit ahead of himself” at times during his tenure.
”After 10 years of being the longest-serving stand-alone treasurer the state has ever had … I think we can look back and say the economy is solid, the fiscal position is improving and sound,” he said.
”Ultimately, there’s no great time to leave the great honour that is public office, but that time for me has come.
“We need to have a new perspective, new insights; good governments know they have to renew themselves.”
When asked about regrets, Mr Pallas told reporters he was “human” like everyone else, and although he “tried (his) best”, was still susceptible to mistakes, which he took responsibility for.
“We’re all human,” he said. “We have to acknowledge that in public life, we try our hardest to do the best we can.
“I think we can look back and say there are things that could have been executed better, but that’s simply acknowledging we’re all human.”
The move comes days after a horror budget for the state was unveiled on Friday. Picture: NewsWire/ David Crosling
Following the news, Federal Treasurer Jim Chalmers was asked if the Victorian public held Mr Pallas in high regard.
“I’m not going to have a shot at him on the way out the door,” he told reporters.
“I’m focused on my budget and the budget update that (Finance Minister Katy Gallagher) and I will update on Wednesday. I won’t give the Victorians free advice.”
Mr Pallas has been treasurer for a decade. Picture: NewsWire / Aaron Francis
Mr Pallas extended his thanks to the staff he worked with over the years whose “frank and fearless advice” would be “forever appreciated”.
“I would like to thank the great Australian trade union movement from which I came,” he said.
“I would like to sincerely thank my staff who have worked so tirelessly and fearlessly for the government, the people of Werribee and of Victoria.
“You live your values every day.”
Mr Pallas’ announcement comes after the mid-year state budget update was announced on Friday, revealing Victoria will almost double its fire levy and increase its parking fees in the inner suburbs to ease the state’s ballooning debt.
Rumours of Mr Pallas’ resignation were first reported in May.
More to come