Finance Minister Mathias Cormann to quit politics

The Liberal Party will lose one of its most senior cabinet figures with Finance Minister Mathias Cormann to quit politics.

"I love this job. I can honestly say I left nothing on the field," Mr Cormann said in a statement released on Sunday morning.

Finance Minister Mathias Cormann is set to leave politics by the end of the year.

Finance Minister Mathias Cormann is set to leave politics by the end of the year.Credit:Alex Ellinghausen

"Having decided not to recontest the next election, I can confirm that I have advised the Prime Minister that the end of the year would be an appropriate time for an orderly transition in my portfolio," Mr Cormann said.

"I am not about to go anywhere yet," he said.

He will work with Prime Minister Scott Morrison and Treasurer Josh Frydenberg on the federal budget due to be delivered in October.

Mr Cormann was appointed Finance Minister under the Abbott government in 2013 and has remained in that role under prime ministers Malcolm Turnbull and Scott Morrison.

More to come

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