It has been an extraordinary honour to serve alongside Wayne Swan, to have worked for him, and to know him as a mate and a mentor.

Nobody has worked harder for longer for Australians on low and middle incomes than he has. Only Chifley and Keating have handed down more Budgets in Labor Governments.

Wayne is the battler’s champion. He has lived and breathed the causes of everyday people for the quarter of a century since his first election.

I have seen and heard first-hand the influence his values, upbringing and his local community have had on the decisions he took as Treasurer and Deputy Prime Minister.

In his 25 years as a parliamentarian, and long before that, he has spoken up for and stood up for the essentials of a quality life: decent wages and opportunities, a great education and services, and a fair go for all.

Because of the work of Wayne and his colleagues during the GFC, thousands of ordinary Australians were saved from the employment scrapheap.

His role in Labor’s swift response to the sharpest synchronised downturn in the global economy since the Great Depression has seen him lauded and awarded internationally.

I know the decision he announced today was not easy for him to make, and that he will work hard right up to the election.

It speaks volumes of him and his commitment to his community and our labour movement that he wanted to give the Labor Party sufficient time to build an effective campaign in Lilley.

It’s reassuring to know that when he does vacate his parliamentary office he won’t be vacating the battleground of ideas, or the struggle against inequality and entrenched social disadvantage.

I look forward to continuing to work with Wayne, and I wish him, the wonderful Kim and their family all the very best.