In a cabinet reshuffle announced by the prime minister on Sunday, Mr Frydenberg was appointed as the new assistant treasurer, following Senator Arthur Sinodinos’ decision to stand down formally.
Mr Frydenberg was until now the parliamentary secretary to the prime minister and was tasked with leading the government’s red-tape reduction agenda.
The new appointment will end Senator Mathias Cormann’s role as acting assistant treasurer, freeing him up to focus on the Budget full-time.
“I am humbled to have been appointed assistant treasurer by the prime minister,” Mr Frydenberg said in a statement.
“It is a great privilege to be able to serve in this portfolio as a member of the Abbott government ministry.
“I would like to pay tribute to Senator the Hon Arthur Sinodinos AO for his very valuable work in this portfolio.
“I would also like to acknowledge the very significant work of the Minister for Finance, Senator the Hon Mathias Cormann, who has been acting assistant treasurer.”
Mr Frydenberg is the federal member for the Melbourne seat of Kooyong and is a former barrister, Mallesons partner and Oxford University tennis representative.
Meanwhile, fellow Melbourne Coalition MP Kelly O’Dwyer has been appointed parliamentary secretary to the treasurer, and former WA treasurer Christian Porter will replace Mr Frydenberg as parliamentary secretary to the PM.
Former immigration minister Scott Morrison has been named minister for social services, while former health minister Peter Dutton has taken on the immigration role and Western NSW MP Sussan Ley has been appointed health minister.
