Assistant Treasurer Arthur Sinodinos has stood down from the frontbench after political pressure over business dealings that are before a NSW anti-corruption inquiry.
The Assistant Treasurer made a short statement at the beginning of Senate Question Time on Wednesday, after weathering three days of damaging headlines about his involvement in Australian Water Holdings - a company associated with corrupt former Labor Minister Eddie Obeid.
Senator Sinodinos will stand aside from his senior role in the Abbott government while giving evidence to the Independent Commission Against Corruption.
"Earlier today Senator Sinodinos advised me of his "decision to step aside for the good of the government", Mr Abbott said in question time on Wednesday."Senator Sinodinos has done the right and decent thing as you'd expect and for someone who has given out country such long and faithful service."
Senator Sinodinos said he did not want his corruption inquiry to become a "sideshow" to the important work being undertaken by his colleagues."I rise to make a statement in regard to the current inquiry into Australian Water Holding Propriety Limited by the independent commission against corruption in NSW," he said.
Earlier on Wednesday, shadow treasurer Chris Bowen called on Senator Sinodinos to appear before the Senate to explain himself."If he can't do that then he should stand aside," Mr Bowen told Sky News. "And if he won't stand aside the Prime Minister should show some leadership and stand him aside this morning."
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