Treasurer of Australia in the context of Australian Securities


Treasurer of Australia in the context of Australian Securities

⭐ Core Definition: Treasurer of Australia

The Treasurer of Australia, also known as the Federal Treasurer or more simply the Treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election.

The Treasurer implements ministerial powers through the Department of the Treasury and a range of other government agencies. According to constitutional convention, the Treasurer is always a member of the Parliament of Australia with a seat in the House of Representatives. The office is generally seen as equivalent to the Chancellor of the Exchequer in the United Kingdom or the Secretary of the Treasury in the United States or, in some other countries, the finance minister. It is one of only four ministerial positions (along with prime minister, Minister for Defence and Attorney-General) that have existed since Federation.

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Treasurer of Australia in the context of James Scullin

James Henry Scullin (18 September 1876 – 28 January 1953) was an Australian politician and trade unionist who served as the ninth prime minister of Australia from 1929 to 1932. He held office as the leader of the Australian Labor Party (ALP), having briefly served as treasurer of Australia during his time in office from 1930 to 1931. His time in office was primarily categorised by the Wall Street crash of 1929 which transpired just two days after his swearing in, thus heralding the beginning of the Great Depression in Australia. Scullin remained a leading figure in the Labor movement throughout his lifetime, and was an éminence grise in various capacities for the party until his retirement from federal parliament in 1949. He was the first Catholic to serve as prime minister.

The son of working-class Irish-immigrants, Scullin spent much of his early life as a laborer and grocer in Ballarat. An autodidact and passionate debater, Scullin made the most of Ballarat's facilities – the public library and South Street Debating Society. He joined the Australian Labor Party in 1903, beginning a career spanning five decades. He was a political organizer and newspaper editor for the party, and was elected to the Australian House of Representatives first in 1910 and then again in 1922 until 1949. Scullin quickly established himself as a leading voice in parliament, rapidly rising to become deputy leader of the party in 1927 and then Leader of the Opposition in 1928.

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Treasurer of Australia in the context of Paul Keating

Paul John Keating (born 18 January 1944) is an Australian former politician and trade unionist who served as the 24th prime minister of Australia from 1991 to 1996. He held office as the leader of the Labor Party (ALP), having previously served as treasurer under Bob Hawke from 1983 to 1991 and as the seventh deputy prime minister from 1990 to 1991.

Keating was born in Sydney and left school at the age of 14. He joined the Labor Party at the same age, serving a term as State president of Young Labor and working as a research assistant for a trade union. He was elected to the Australian House of Representatives at the age of 25, winning the division of Blaxland at the 1969 election. He was briefly minister for Northern Australia from October to November 1975, in the final weeks of the Whitlam government - along with Doug McClelland, he is the last surviving minister who served under Gough Whitlam. After the Dismissal removed Labor from power, he held senior portfolios in the Shadow Cabinets of Whitlam and Bill Hayden. During this time he came to be seen as the leader of the Labor Right faction, and developed a reputation as a talented and fierce parliamentary performer.

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Treasurer of Australia in the context of Stanley Bruce

Stanley Melbourne Bruce, 1st Viscount Bruce of Melbourne (15 April 1883 – 25 August 1967) was an Australian politician, statesman and businessman who served as the eighth prime minister of Australia from 1923 to 1929. He held office as the leader of the Nationalist Party, having previously served as the treasurer of Australia from 1921 to 1923.

Born into a briefly wealthy Melbourne family, Bruce studied at the University of Cambridge and played a leading role in his family's softgoods firm following the suicide of his father John Munro Bruce. He served on the front lines of the Gallipoli Campaign in World War I and returned to Australia wounded in 1917, becoming a spokesman for government recruitment efforts. He gained the attention of the Nationalist Party and prime minister Billy Hughes, who encouraged a political career. He was elected to the House of Representatives in 1918, becoming member of parliament (MP) for the seat of Flinders. He was appointed as treasurer in 1921, before replacing Hughes as prime minister in 1923. He established an anti-socialist coalition government with the agrarian Country Party, working closely with Country leader Earle Page in an arrangement that pioneered the modern Liberal–National coalition.

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Treasurer of Australia in the context of Australian Securities & Investments Commission

The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC, which reports to the treasurer, was established on 1 July 1998 following recommendations from the Wallis Inquiry.

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Treasurer of Australia in the context of Hawke-Keating government

The Hawke–Keating government is an all-encompassing term to describe the duration of the Hawke government and the Keating government, which together spanned from 11 March 1983 to 11 March 1996. Both governments were formed by the Australian Labor Party, and were led from 1983 to 1991 by Bob Hawke as prime minister, and from 1991 to 1996 by Paul Keating as prime minister, with Keating serving as Treasurer throughout the Hawke government. During the Hawke–Keating government, the Labor Party won five successive federal elections, its most electorally successful period to date; the 13-year uninterrupted period of government also remains the Labor Party's longest spell in power at the federal level. This period in Australia’s political history is also referred to as the Hawke–Keating era.

The Hawke–Keating government began after the Fraser government was defeated at the 1983 election and ended with defeat at the 1996 election, which ushered in the Howard government. In between those elections were further victories in 1984, 1987, 1990 and 1993. The Hawke–Keating government has been described by Labor figures as the party's most successful period in government in its history, and has generally been reviewed positively by historians for its degree of achievement. Scholars and politicians have noted the importance of the powerful political and personal partnership that developed between Hawke and Keating to the success of the government.

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Treasurer of Australia in the context of Attorney-General for Australia

The attorney-general of Australia (AG), also known as the Commonwealth Attorney-General, is the minister of state and chief law officer of the Commonwealth of Australia charged with overseeing federal legal affairs and public security as the head of the Attorney-General’s Department. The current attorney-general is Michelle Rowland, who was chosen by prime minister Anthony Albanese in May 2025 following the 2025 federal election. By convention, the attorney-general is a lawyer.

The attorney-general is one of only four positions in the Commonwealth Government to have continuously been held since federation, along with the prime minister, the minister for defence and the treasurer.

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Treasurer of Australia in the context of Turnbull government

The Turnbull government was the federal executive government of Australia led by the 29th prime minister of Australia, Malcolm Turnbull, from 2015 to 2018. It succeeded the Abbott government, which brought the Coalition to power at the 2013 Australian federal election. The government consisted of members of Australia's Liberal-Nationals Coalition. Turnbull took office by challenging his leader, Tony Abbott, in an internal leadership ballot. Warren Truss, the leader of the Nationals, served as deputy prime minister until he retired in 2016 and was replaced by Barnaby Joyce. Joyce resigned in February 2018 and the Nationals' new leader Michael McCormack became deputy prime minister. The Turnbull government concluded with Turnbull's resignation ahead of internal leadership ballot which saw him succeeded as prime minister by Scott Morrison and the Morrison government.

In mounting his 2015 public challenge for the leadership, Turnbull cited extended poor polling in Newspoll by the Abbott government and said Australia needed a new style of "economic leadership". Turnbull appointed Morrison as Treasurer in an expanded ministry, promoting several key supporters. Julie Bishop remained as Minister for Foreign Affairs. Conservatives Tony Abbott, Eric Abetz and Kevin Andrews were sent to the backbench. Joe Hockey left Parliament. The Turnbull government continued a number of Abbott government initiatives, promising a plebiscite legalising same-sex marriage, concluding Abbott era initiatives on an anti-domestic violence campaign, funding the National Disability Insurance Scheme, signing a China free trade deal, and reforming Senate voting.

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Treasurer of Australia in the context of Morrison government

The Morrison government was the federal executive government of Australia, led by Prime Minister Scott Morrison of the Liberal Party of Australia, between 2018 and 2022. The Morrison government commenced on 24 August 2018, when it was sworn in by the Governor-General of Australia. It was composed of members of the LiberalNational Coalition and succeeded the Abbott (2013–2015) and Turnbull (2015–2018) coalition governments in office, competing against the Australian Labor Party as the major Opposition party. Nationals Leader Michael McCormack was Deputy Prime Minister of Australia from the formation of the Morrison government until June 2021. He was replaced as Leader of the Nationals and Deputy Prime Minister by Barnaby Joyce.

Scott Morrison was Treasurer in the Turnbull government and became Prime Minister following the resignation of Malcolm Turnbull in 2018. The Coalition had been led to government at the 2013 Election by Tony Abbott, however Malcolm Turnbull became Prime Minister by challenging Abbott in 2015. Turnbull then led the Coalition to a narrow victory at the 2016 Election, and resigned in the midst of a challenge to his leadership by Minister for Home Affairs Peter Dutton in 2018. Turnbull then quit Parliament, plunging the Coalition into minority government following the 2018 Wentworth by-election. Elected leader of the Liberals over Dutton in the 2018 spill, Morrison then restored the Coalition to majority government at the 2019 Election.

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