Guy Barnett new Deputy Premier

GUY Barnett has been elected as Deputy Leader of the Liberal Party, and will become Deputy Premier.

He was elected unopposed at a meeting of the Parliamentary Liberal Party this morning.

Mr Barnett was first elected to the Tasmanian Parliament in 2014, having previously served as a Liberal Senator for Tasmania.

He has held a number of Ministerial portfolios over that time including resources, energy, and currently attorney-general and health.

EARLIER - DEPUTY Premier Micheal Ferguson has quit Cabinet sensationally after it became clear he would be unlikely to survive a no confidence vote in Parliament.

He will remain a member for Bass on the backbench.

The decision comes after Labor and key cross benchers – independent, Greens and Jacqui Lambie MPs - announced they could not support him any longer following the Spirit of Tasmania fiasco.

"It is with a heavy heart that this afternoon I have tendered my resignation as Treasurer and Minister,’" Mr Ferguson said.

"I will continue to serve the people of Bass – who have faithfully elected me on six occasions. 

"I have chosen to act in the best interests of the Government and Tasmanians.

"From the outset, I want to thank my Liberal Party colleagues for their continued support for me over the past 20 years – and during my time as a Minister in Cabinet. 

"I want to thank the Premier for his support and backing over the past few months – both personally and as a colleague – this friendship is one that I have returned to him during my time as his Deputy Premier.     

"Finally, I want to thank my loving family for their unbelievably generous, patient and loving support as we have worked as a unit in service of the Tasmanian people."

Mr Ferguson was first appointed as Deputy Premier and Treasurer in 2022, following the resignation from Parliament of Peter Gutwein.

A Liberal party-room ballot will be needed to determine the next Deputy Liberal Leader and Deputy Premier. The Deputy Liberal Leader also gains the choice of their preferred portfolio, which is likely to determine who succeeds Mr Ferguson as Treasurer.