Stephen Jones Retirement: Australia: Labor minister Stephen Jones announces retirement from politics


Australia: Labor minister Stephen Jones announces retirement from politics
File photo: Stephen Jones (Picture credit: X/@StephenJonesMP)

Australia’s assistant treasurer and minister for financial services Stephen Jones has announced his retirement from politics and will not contest the upcoming federal election. His decision marks another high-profile departure from the Albanese government, following the recent exits of Bill Shorten, Linda Burney, and Brendan O’Connor.
Jones, who has represented the Illawarra and Southern Highlands seat of Whitlam (previously known as Throsby) since 2010, expressed his “immense gratitude” to his constituents.
“This great community deserves a representative who will continue to fight for the things that matter… I know Labor will choose a candidate that will do just that,” he said in a statement, according to ABC.
Throughout his tenure, Jones played an important role in shaping financial policies, particularly in regulating the buy now, pay later sector and strengthening consumer protections. He also led efforts to tax social media platforms unless they paid for Australian journalism and worked on deregulating financial advice, as per Daily Mail.
Treasurer Jim Chalmers praised Jones as a “terrific colleague” with “big ideas” who contributed significantly to superannuation reforms, the financial system, and consumer protections. “He has delivered reforms that will allow more Australians to retire with dignity and has helped make financial advice more accessible,” 9News.com.au quoted Chalmers .
Jones was a vocal advocate for LGBTQIA+ youth and made headlines in February 2022 when he delivered an emotional speech in Parliament about his son Paddy. “I worry myself sick every time he leaves the house,” he said, referencing concerns for his son’s safety in a society still grappling with acceptance.
Jones revealed that he first discussed the possibility of retirement with Prime Minister Anthony Albanese six months ago but decided to wait and reassess over the summer. “Fifteen years is a long time in the job… And I have just reached this stage in my life where it is time to do something else. I don’t know what it is yet… I actually do want my weekends back,” he told reporters in Shellharbour.
His decision adds to the growing list of ministerial vacancies in the Albanese government, just days after a cabinet reshuffle triggered by Shorten’s retirement. The government will now look to preselect a candidate to defend Whitlam, which is held by Labor with a margin of 8.3 per cent.
As he prepares to step away from politics, Jones emphasised his pride in championing marriage equality, gambling ad reform, and supporting Australia’s steel industry and vocational education. “There is a long list of accomplishments we have achieved both for the electorate of Whitlam and in my role as minister, and I couldn’t have done it without my staff,” he said.





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