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As foreshadowed in our earlier blog, Josh Frydenberg has been named the new Treasurer by PM Scott Morrison. 

In his first media conference as PM-elect, Morrison said he would be finalising his cabinet and ministry over the weekend. While he said leadership rival Peter Dutton would be welcome in the new ministry, Morrison did not answer when asked whether Tony Abbott would be returning to the frontbench. The new PM identified electricity prices and the drought as his priorities. 

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