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The Treasurer of Australia is the Minister in the Government Of Australia responsible for government expenditure and revenue raising. As such, the Treasurer is always a member of the Parliament Of Australia with an Elected Seat in the House Of Representatives . In some other countries the equivalent role is the Minister For Finance , although Australia has a separate office of that name responsible for regulating government spending. Each year in May, the Treasurer presents the Federal Budget to the Parliament. The Treasurer is a very senior government post; traditionally, the holder of this office is the Deputy Prime Minister or deputy leader of the Political Party holding government. Being Treasurer is often seen by the Canberra Press Gallery and the public as a necessary stepping-stone to the Prime Minister ship; however, only six Prime Ministers have served as Treasurer before ascending to higher office. The current treasurer is Peter Costello . LIST OF AUSTRALIAN TREASURERS
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