Senior Labor figure Tom Koutsantonis has been appointed South Australia’s new Treasurer in a cabinet reshuffle triggered by the shock resignations of Deputy Premier Susan Close and Treasurer Stephen Mullighan.
Koutsantonis, who previously served as Treasurer from 2014 to 2018, has been Minister for Transport, Infrastructure, Energy and Mining since Labor’s 2022 election win. In the reshuffle, he has lost transport and infrastructure to Emily Bourke but retained energy and mining.
Sworn in at Government House this morning, Koutsantonis said he was excited by the challenge of returning to Treasury.
“We’ve got a once in a generation opportunity … South Australia is out of that transition now from post car industry and is now growing,” he said.
“My job is to make sure we can sustain that by giving business certainty, no surprises and making sure that the Premier’s election commitments are upheld.”
Premier Peter Malinauskas said Koutsantonis was well suited to the role.
“The Treasury role has its own demands and frankly, you’ve got to have someone in that role that has the capacity to be able to exercise discipline in the government and even on me as Premier,” Malinauskas said.
“Tom and I enjoy a relationship where we’re able to do that. He has no reservations in speaking truth to power … anyone will tell you that and that’s actually an important asset.”
Koutsantonis also stressed there would be no tax changes, in line with the government’s election pledge.
