On Friday (18 December), Prime Minister Scott Morrison announced several changes to his Ministry.*
While the ministers for the Treasury, Finance, Employment, Skills, Small and Family Business, Foreign Affairs, Defence and Home Affairs portfolios remain the same, the Prime Minister announced that he was “bring[ing] forward new talent as Australia continues its comeback from the COVID-19 crisis”.
Among other changes to the Ministry, senator Jane Hume, the Assistant Minister for Superannuation, Financial Services and Financial Technology, has been promoted to Minister for Superannuation, Financial Services and the Digital Economy.
Mr Morrison said: “Strengthening the economic team and in recognition of the growing importance of digital technology to Australia’s economic future, senator the Honorable Jane Hume will be promoted to the Ministry and take on expanded responsibilities from superannuation and financial service, which she’s been working on now since the last election.
“She will now [also] take on the role as the digital economy minister.
“The digital transformation package was a key component of the most recent budget. It was something I highlighted last year, as one of the key areas for our job-making economic plan for Australia, and it has become even more important as we emerge from the COVID-19 recession,” Mr Morrison said.
Responding on Twitter, the new Minister for Superannuation, Financial Services and the Digital Economy commented: “Honoured to have been asked by Prime Minister [Scott Morrison] to take on an expanded role focussing not just on fintech but on Australia’s thriving digital economy. As the PM said, the digital economy is becoming increasingly important for Australia’s future & Australian jobs!”
Honoured to have been asked by Prime Minister @ScottMorrisonMP to take on an expanded role focussing not just on fintech but on Australia’s thriving digital economy. As the PM said, the digital economy is becoming increasingly important for Australia’s future & Australian jobs!🇦🇺 pic.twitter.com/jwMrylcq5h— Jane Hume (@SenatorHume) December 18, 2020
Other notable changes relating to the mortgage industry include an expanded role for the Minister for Housing, Michael Sukkar, who will become Minister for Housing, Homelessness, Social and Community Housing.
“Building on the demonstrated success of the government’s housing policies in maintaining construction jobs during the COVID pandemic, the Honorable Michael Sukkar MP will have expanded responsibilities as Minister for Housing, Homelessness, Social and Community Housing,” Mr Morrison said.
*This story was updated on 21/12/2020 to reflect that not all ministers are members of the cabinet.
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.