Prior to entering the Senate, Ms Hume was previously a senior policy adviser for industry fund AustralianSuper. Before that, she had held roles for the National Australia Bank, Rothschild Australia and Deutsche Bank.

Josh Frydenberg will continue in his capacity as federal Treasurer.

Michael Sukkar will be the Assistant Treasurer, taking over from Stuart Robert who had been in the role since August last year, as well as the Minister for Housing.

Mr Morrison said Mr Sukkar would have particular responsibility for the First Home Loan Deposit Scheme, which was announced and committed to during the election, as well as more affordable housing.

This new-look ministry will be sworn in on Wednesday. Cabinet will also meet on Wednesday.

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