Opposition announces shadow financial services minister

Dutton has announced that Luke Howarth will serve as both shadow assistant treasurer and shadow financial services minister.

“Luke understands that small business is the backbone of the Australian economy,” the Opposition Leader said in a statement.

“He has previously run a family business before entering Parliament and has a strong understanding of the financial pressures many Australians are currently experiencing under the government’s cost-of-living crisis.

“Luke will bring his strong command of retail economics to this important role.”

Prior to his new appointment, Howarth had served as shadow minister for defence industry and defence personnel since June 2022.

The previous shadow assistant treasurer and shadow financial services minister, Stuart Robert, announced his resignation back in May last year, after 16 years in Parliament.

“Serving my community and the country has been the highest of honours. But it is now time to focus on my family,” Robert said at the time.

Robert joined ifa on a podcast just a week before his resignation where he was openly critical of Financial Services Minister Stephen Jones and his handling of the financial advice industry.

Among other things, Robert denounced the government’s approach to the Quality of Advice Review (QAR), referring to their “consulting upon the consultation” as a “farce”, and raised doubts about the competency of Jones.

Senator Andrew Bragg, who some had hoped would be named as shadow financial services minister, will instead serve as shadow assistant minister for home ownership.