Five assistant treasurers in five years
The Federal Opposition has pointed out that the resignation of Assistant Treasurer Senator Mark Arbib means the Government will have had five people filling the portfolio in the past five years.
The Opposition spokesman on Financial Services Senator Mathias Cormann said the four politicians to fill the role under Labor in the past five years had been Chris Bowen, Nick Sherry, Bill Shorten and Mark Arbib.
He said that with Senator Arbib's departure, a fifth person will need to be appointed to the role.
With the Prime Minister Julia Gillard expected to announce a further minor Cabinet reshuffle later this week, the impact on the financial services portfolio is expected to be relatively minor, with the Minister for Employment and Workplace Relations, Financial Services and Superannuation, Bill Shorten, expected to remain in his existing roles.
The most likely successor to Senator Arbib in the Assistant Treasurer role is regarded as being the Parliamentary Secretary to the Treasurer, David Bradbury, who declared himself early as a supporter of the Prime Minister in the recent leadership spill.
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