With the central planks of the Government’s superannuation policy platform now in place, one of its key architects, Assistant Treasurer Senator Helen Coonan has been promoted to the Cabinet as Minister for Communications, Information Technology and the Arts.
Senator Coonan is being replaced as Assistant Treasurer and Minster for Revenue by the former Minister for Employment Services, Mal Brough.
The moves have been announced by Prime Minister John Howard as part of a Cabinet reshuffle following the standing down of Environment and Heritage Minister, David Kemp and Communications, Information Technology and Arts Minster, Daryl Williams, prior to their departing politics at the next election.
While Coonan came to the Assistant Treasury portfolio with a strong background in law, Brough is a Queenslander with a background in the Army and thereafter as the manager of a telecommunications company, proprietor of a wholesale business and partner in a trade-show and promotions company.
Brough was elevated to the Howard Government’s outer-ministry as a Parliamentary Secretary in 2000 and was appointed Minister for Employment Services in 2001.
The Cabinet reshuffle and Coonan’s elevation to the inner-Cabinet prompted the Federal Opposition to accuse her of having failed and of leaving a number of tasks unfinished.
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Industry associations have welcomed the Treasurer’s review into the superannuation performance test and called for targeted changes that would enable investment in certain assets with strong long-term performance.
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