I'm really pleased to take up the Finance portfolio and to join some terrific colleagues in Labor's new Shadow Cabinet.

The Finance portfolio is all about ensuring Australians receive value for money from their taxes and that we continue to invest responsibly in people and in the future.

With Australia’s AAA credit rating at risk, decisions made in this Parliament will be key to ensuring ongoing economic prosperity in the years ahead.

The Coalition has tripled the deficit since their disastrous 2014 Budget, Government spending is higher now than at any point since the peak of the GFC, and net debt has blown out by more than $100 billion.

Labor is the Party of budget repair that is fair, which means improving the bottom line while supporting low and middle income earners.

I’m delighted to see so much fresh talent join the frontbench team, including friends from the ‘Class of 2013’ and those elected for the first time earlier this month.

I’d like to thank Bill Shorten for the opportunity to work on economic policy in a very strong economic team and I’m looking forward to getting stuck in to it.