Today I have been sworn in as a Minister in the Rudd Government and will continue in my role as Assistant Treasurer and Minister Assisting for Deregulation.
I have also been given the title of Minister for Competition Policy and Consumer Affairs to reflect the portfolio responsibilities I have had since first becoming Parliamentary Secretary to the Treasurer and later Assistant Treasurer.
I have also taken on the role of Minister Assisting for Financial Services and Superannuation, with the Treasurer taking primary responsibility for these policy areas.
I would like to thank the Prime Minister for expressing his faith in me to continue in my role and to serve as a Minister in this Labor Government.
Over the past 16 months as Assistant Treasurer, I have been proud to oversee a range of reforms, including:
- Driving the Government's not-for-profit sector reform agenda, including the establishment of Australia's first dedicated and independent regulator for charities, the Australian Charities and Not for profits Commission (ACNC), and the introduction of a statutory definition for charities
- Introducing tax reforms such as loss carry back to help small business
- Cracking down on corporate tax loopholes and protecting billions of dollars of tax revenue from multinational profit shifting and tax avoidance
- Requiring, for the first time, the publication of tax payable by large corporate entities
- Introducing legislation to protect consumers from unfair terms in insurance contracts
As a member of the Rudd Government's Ministerial team, I look forward to continuing to serve the community and the nation and to campaign on our strong record of economic reform.