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AAP

Politics

Melissa Meehan, Callum Godde and Holly Hales

Treasurer bows out, leaves state debt pile behind

Tim Pallas has called time on his parliamentary career after ten years as Victoria's treasurer. (Diego Fedele/AAP PHOTOS)

Victoria will have its first new treasurer in a decade as Tim Pallas steps down and quits politics, leaving a mountain of state debt in his wake.

Mr Pallas announced he would resign from cabinet and retire as the member for Werribee after 18 years in politics at a snap press conference on Monday.

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