Young Stephen Jones as he is only 60 years young in June 2025 …
*ABC - Labor minister Stephen Jones to retire on brink of election
Stephen Jones - Fighting Scammers, Fighting for Australians
Assistant Treasurer Stephen Jones to retire from politics
By Ronald Mizen
Assistant Treasurer Stephen Jones will retire from parliament at the next federal election setting the stage for a reshuffle of Prime Minister Anthony Albanese’s economics team after the poll.
Mr Jones’ office confirmed his departure on Thursday morning, telling The Australian Financial Review he would retain his portfolio responsibilities until the election, which is due on or by May 17.
In a statement issued a short time later, the NSW Labor MP who entered federal parliament in 2010, thanked the prime minister for his friendship and support, and thanked everyone who had worked with him for over 15 years.
Mr Jones joins a growing list of Labor politicians who have decided to quit politics amid polls showing the party is headed for a minority government.
The latest Australian Financial Review/Freshwater Strategy poll shows the Coalition leads Labor 51 per cent to 49 per cent. Those figures have been unchanged for four consecutive months, and it is the seventh month the opposition has led the government.
Mr Jones holds the NSW seat of Whitlam, which covers parts of the Illawarra region and the Southern Highlands, which he won with 60.1 per cent of the vote in two-party terms at the last election.
Other departures include former Labor leader and minister for the National Disability Insurance Scheme Bill Shorten and fellow Victorian frontbencher Brendan O’Connor; former Indigenous affairs minister Linda Burney; and backbenchers Graham Perrett and Brian Mitchell.
Mr Jones, a senior member of Labor’s left faction, was a key feature of key political debates over the past term of Parliament, including in the Albanese government’s efforts to punish social media companies unless they pay for local news content; cracking down on scams; deregulating the financial advice sector; and boosting standards for superannuation fund customers.
His departure will open up a key role in Labor’s economics team, as the assistant treasurer also sits on the government’s powerful expenditure review committee of cabinet, which approves all new spending programs.
The 59-year-old’s decision also comes almost a year after he tied the knot to public sector union national president Brooke Muscat in a ceremony at the National Portrait Gallery in Canberra.
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'I thought it was dangerous'
'My job is not done': Labor MP Stephen Jones announces retirement from politics
The assistant treasurer has called time on his 15-year career in parliament.
Stephen Jones will not be contesting his seat at the upcoming election. Source: AAP / Mick Tsikas
KEY POINTS
- Stephen Jones has announced his retirement from politics.
- Jones is the assistant treasurer and minister for financial services.
- He is the fourth Labor minister to step down from politics before the federal election.
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