Finance Minister Mathias Cormann to quit federal politics at end of year

Finance Minister Mathias Cormann says he will quit federal politics by the end of the year, sparking a Cabinet reshuffle for the Federal Government.

The West Australian senator was elected in 2007. He has served as the nation’s Finance Minister for seven years, under three Liberal prime ministers.

There had been speculation Senator Cormann was considering his future, and in a statement today he confirmed he intended to resign within the next six months.

But Senator Cormann says he will remain in the job to finalise the Government’s July economic statement and the federal budget, to be handed down in October.

More to come.