Todd McClay tipped for promotion

Todd McClay

Rotorua MP Todd McClay is "excited to get stuck in" to his new role as Trade Minister.

Mr McClay was a big winner from Prime Minister John Key's Cabinet reshuffle today, picking up the major portfolio while keeping his role as Minister for State Owned Enterprises.

He will hand over the Revenue portfolio to Michael Woodhouse.

"It is a bit of a surprise but I am very excited by it."

He said trade was of exceptional importance to both New Zealand, and the Rotorua electorate.

"If I was asked what portfolios I would like revenue wouldn't have been towards the top of the list, trade probably is towards the top. It is a good fit with some of my background."

Mr McClay said he planned to take a bit of time over summer to reflect on the role and the big issues.

He said keys would be around fairness of trade and reducing some of the barriers faced.

As well as looking at new agreements Mr McClay said it as important to make sure the existing agreements were working for New Zealand and looking at ways they could work better.

While negotiations around the Trans Pacific Partnership had concluded he would be involved in the legislation to enact it and said he would be looking at taking time for the public to fully understand it.

Mr McClay was travelling to Kenya this weekend as part of the World Trade Organisation's 10th Ministerial Conference.

He said while his new portfolio would mean he was "a little bit busier" but said he would be working with his offices to make sure he remained as available as he had been.

"It is my absolute privilege to be MP for Rotorua."

EARLIER:

Rotorua MP Todd McClay is tipped to be a big winner in Prime Minister John Key's Cabinet reshuffle this afternoon.

Political commentators are speculating Mr McClay will take over the Trade portfolio from Tim Groser.

Mr Groser is expected to announce he is leaving to become Ambassador to the United States, although his actual resignation may be delayed until February, giving him the chance to sign the Trans-Pacific Partnership agreement he has spent the past seven years overseeing.

Mr McClay's Inland Revenue portfolio is expected to go to Commerce Minister Paul Goldsmith.

Judith Collins is expected to return as Corrections Minister.

The reshuffle will be announced about 4pm.