Premier Jacinta Allan has appointed Jaclyn Symes as Victoria's first female treasurer and promoted Sonya Kilkenny to attorney-general as part of a major reshuffle on Thursday, triggered by the resignation of long-time treasurer Tim Pallas.
Fifteen of the Labor cabinet's 23 members are women, something Ms Allan said was important to represent the diversity of the state.
"The best decisions are made when those decisions are being made by people who reflect those that they're making the decisions for," Ms Allan told reporters.
It's the first time in any Australian jurisdiction that the three most senior government positions of premier, treasurer and attorney-general have been held by three women.
Women in the past have been both premier or chief minister and treasurer, and in 1989 and 1991 Rosemary Follett was the ACT's chief minister, treasurer and attorney-general.
Fifteen out of the Victorian cabinet's 23 members are women. (James Ross/AAP PHOTOS)
Political scientist Zareh Ghazarian said it was a significant moment in Victorian politics and contrasted with a lack of female representation on the opposition frontbench.
"The Labor party has been trying to increase the number of women in the parliament since the mid-1990s," the Monash University senior lecturer told AAP.
"All these efforts have led to this moment."
Ms Symes, an upper house MP from Benalla in Victoria's northeast, has served as attorney-general since 2020 and became emergency services minister in 2021.
"I will be a different treasurer, I will bring a different perspective," Ms Symes said.
"I am going to throw everything at it."
Deputy Premier Ben Carroll kept his position as education minister in the reshuffle despite Victoria's recent year 12 exam questions leaking debacle.
Police Minister Anthony Carbines picked up community safety and victims portfolios, while Corrections Minister Enver Erdogan will become responsible for casino, gaming and liquor regulation.
Harriet Shing has been given a bumper promotion, taking on Suburban Rail Loop responsibilities in addition to development and housing.
Gabrielle Williams picked up the mega portfolio of transport infrastructure from Danny Pearson, who had been Suburban Rail Loop minister and assistant treasurer to Mr Pallas.
Mr Pallas, who spent 10 years as treasurer and 18 years in parliament, retired after unveiling a mid-year budget update that showed the forecast 2024/25 deficit would be $3.6 billion - $1.4 billion higher than predicted in May.
Tim Pallas has stepped down as Victoria's treasurer after serving for a decade in the role. (Diego Fedele/AAP PHOTOS)
Net debt is expected to hit $155.2 billion by July and grow to $187.3 billion by mid-2028, after an $837 million blowout on the Melbourne Metro Tunnel and a $1.5 billion lifeline for the state's hospitals.
There have been concerns about Ms Symes' economic credentials but she has been on the expenditure review committee for several years and her appointment was backed by the Victorian Chamber of Commerce and Industry.
Shadow treasurer Brad Rowswell said the real test for Ms Symes would be easing cost-of-living pressures facing Victorians.
"After 10 years of Labor after 10 Labor budgets, the economic circumstance in this state is an absolute and utter basket case," he said.
"It will be a big job to get it back on track."
The Allan Labor government will face another test in early 2025, with Mr Pallas' retirement triggering a by-election for the seat of Werribee in Melbourne's west.
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