Liberal MP and former NSW Treasurer Matt Kean resigns from politics

Matt Kean, a New South Wales Liberal MP and the state's former treasurer, has resigned from politics.

Kean made the shock announcement this afternoon, ruling out running for federal parliament, saying he will instead be pursuing a corporate career in the energy sector.

"I am leaving parliament but will always look to serve the public and I intend to continue making the biggest contribution I can to the community and the causes I am passionate about. This will be in a different career," he said.

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Kean's announcement came just hours after the current Labor Treasurer Daniel Mookhey handed down his second budget.

He also used the opportunity to criticise his predecessor, and accused him of delivering "the worst NSW budget in modern history".

"It's only taken 18 months for him to break the budget. Rather than take responsibility for his failed policies, he's tried to blame everyone else. … I mean, the next excuse we're going to hear is 'The dog ate my surplus'."

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While announcing his resignation, Kean said his proudest achievements while serving as Member for Hornsby for 13 years included successfully advocating for the rebuild of Hornsby Hospital and the construction and delivery of the Northconnex motorway.

As Treasurer, Kean said he "fought hard to build a return to surplus after the economic damage of the pandemic".

"Through this, I focused the 2022 budget on delivering the biggest generational investment in women's economic opportunity this state has seen," he said.

"I am also proud of the agenda-setting reforms I drove relating to energy and climate change."

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Kean also thanked his mentors, including former premier Gladys Berejiklian, his partner and family, and the local members who voted for him.

"I will continue to be a proud member of the Liberal Party, however, I do not intend to nominate for a federal seat.

"Instead I will pursue a corporate career in the energy sector to continue playing a role driving this important transition."