Victorian Treasurer Tim Pallas Resigns After 25 Years in Politics

Pallas’ departure leaves Premier Jacinta Allan to manage a cabinet reshuffle, a byelection, and the state’s mounting debt challenges.

Tim Pallas announced his resignation as Victorian Treasurer and MP for Werribee, marking the end of a 25-year political career, including 10 years as treasurer.
Premier Jacinta Allan must appoint a new treasurer to address Victoria’s record $155.2 billion debt, projected to grow to $187.3 billion by 2028.
The resignation triggers a byelection in the Labor stronghold of Werribee, a region facing significant cost-of-living pressures, with opposition parties eyeing potential gains.
Internal Labor discussions are underway regarding cabinet reshuffles, with multiple candidates from different factions vying for the treasurer and vacant cabinet positions.
Pallas’ tenure is credited with key infrastructure projects like the Metro Tunnel and West Gate Tunnel, though critics highlight the state’s escalating debt as a major concern.