CANBERRA, ACT, May 12 -- The Treasurer of Australia issued the following media release:

I'm grateful to the Prime Minister for the opportunity to continue to serve as Australia's Treasurer.

I'm especially pleased to lead a really high‑calibre economic team alongside the re‑appointed Finance MinisterKatyGallagher.

I'm looking forward to working closely with DanielMulino as the new Assistant Treasurer and Minister for Financial Services.

AnneAly will be an outstanding new Minister for Small Business, International Development and Multicultural Affairs.

AndrewLeigh will continue to do a terrific job in an expanded role as Minister for Productivity, Competition, Charities and Treasury.

We've got a big agenda on housing and I'm very keen to work with ClareO'Neil as Minister for Housing, Homelessness and Cities to deliver it.

These are outstanding colleagues with an abundance of talent, energy and intellectual horsepower.

This will be a very strong and effective economic team.

We've made welcome progress on the economy in our first term but there's more work to do because people are under pressure and the global environment is uncertain.

I look forward to working alongside Katy, Anne, Andrew, Clare and Daniel to roll out our tax cuts for every taxpayer, build more homes, make our economy more productive and provide the responsible economic leadership that's been a defining feature of our Labor Government.

Disclaimer: Curated by HT Syndication.