Statement by Deputy Leader:
"As Deputy Leader of the Liberal Party, I am given the privilege of choosing portfolios.
When our Leader Malcolm Turnbull was elected last year, I chose the Treasury portfolio because it had been something of a tradition in the Liberal Party for the Deputy Leader to hold that portfolio and because I believed that with Malcolm and others this would give the Opposition a strong and effective team in the area of economic management.
While I believe I have carried out my duties as Shadow Treasurer diligently and competently, I have formed the opinion that the ongoing commentary on my role has been a distraction from the scrutiny that should instead have been applied to the Government’s reckless economic performance.
I have concluded that it is in the best interests of the Coalition for me to change portfolio so that the focus returns to the scrutiny of the Labor Government. I have chosen Foreign Affairs because of the importance of retaining the international standing and influence of Australia that was achieved under the former Coalition government.
As Deputy Leader of the Party I will continue to work with my colleagues to ensure that Malcolm Turnbull is the next Prime Minister of Australia and that the Coalition will be able to restore prudent and responsible economic management for the benefit of all Australians."