Deputy Liberal leader Julie Bishop will stand down as Shadow Treasurer after assuming the post just four months ago.
She will remain as Deputy Liberal leader and will take over the portfolio of foreign affairs.
Bishop’s time as Treasury spokesman has been dogged by problems, including allegations of plagiarism and on-going criticism from political commentators.
“While I believe I have carried out my duties as Shadow Treasurer diligently and competently, I have formed the opinion that the ongoing commentary on my role has been a distraction from the scrutiny that should have been applied to the Government’s reckless economic performance,” Bishop said in a statement.
Potential contenders for the Treasury spokesperson’s job include frontbenchers Joe Hockey, Peter Dutton and Andrew Robb.
Hockey, who is currently Finance spokesperson, is seen as the front runner for the job.
Bishop’s decision to stand aside comes just one day after Opposition Leader Malcolm Turnbull said he had full confidence in Bishop.
She was given her choice of portfolio to shift to.
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