The Department of the Treasury, Canberra

The Treasurer of Australia is the minister in the Government of Australia and head of the Department of the Treasury, responsible for government expenditure and revenue raising. The Treasurer is always a member of the Parliament of Australia with a seat in the House of Representatives. In some other countries the equivalent role is the Minister for Finance, although Australia has a separate office of that name responsible for regulating government spending.

Each year in May, the Treasurer presents the Federal Budget to the Parliament. The Treasurer is a very senior government post; traditionally, the holder of this office is the Deputy Prime Minister or deputy leader of the political party holding government. Being Treasurer is often seen by the Canberra Press Gallery and the public as a necessary stepping-stone to the Prime Ministership; however, only six Prime Ministers have served as Treasurer before ascending to higher office.

Wayne Swan is the current Treasurer of Australia. The immediately preceding Treasurer, Peter Costello, held the portfolio for a record term.

List of Australian Treasurers

Wayne Swan is the current Treasurer of Australia

• Treasurers Watson, Fisher, Scullin, Lyons, Menzies, Chifley, Whitlam and Hawke were also Prime Minister during some or all of their period as Treasurer.

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