Victorian Premier Jacinta Allan reshuffles ministry, appoints Jaclyn ...

Victoria's incoming treasurer Jaclyn Symes says she will bring a "different perspective" to her predecessor, as the government seeks to rein in debt amid rising cost-of-living pressures.

Ms Symes, who has served as the state's attorney-general, on Thursday became Victoria's first female treasurer as part of a refreshed cabinet in Premier Jacinta Allan's Labor government. 

The cabinet reshuffle was triggered by former treasurer Tim Pallas's decision to quit politics after more than a decade steering the state's finances.

During that time, Victoria's net debt has risen significantly to more than $150 billion, as the government invested heavily in an ambitious infrastructure pipeline.

Ms Symes said she had an "enormous amount of respect" for Mr Pallas and she planned to bring a fresh approach.

"I will be a different treasurer, I will bring a different perspective," Ms Symes told reporters.

"I am going to throw everything at it, I will be spending this summer talking to experts, familiarising myself with the department, talking to colleagues both current and former."

Ms Symes, who is an upper house MP for Northern Victoria, said it was possible she could seek a seat in the lower house in the future given her new role.

The ministry reshuffle also saw Bentleigh MP Nick Staikos promoted into the ministries of consumer affairs and local government.

Planning Minister Sonya Kilkenny will take on the role of attorney-general, while Police Minister Anthony Carbines will take on ministerial portfolios for community safety and victims.

Housing Minister Harriet Shing will take on additional portfolios including responsibility for the Suburban Rail Loop.

Danny Pearson's portfolios of assistant treasurer, Suburban Rail Loop, and responsibility for WorkSafe and the TAC have been swapped out for finance and economic growth and jobs.

In a statement, Shadow Treasurer Brad Rowswell congratulated Ms Symes on her historic appointment as Victoria's first female treasurer and said he had always enjoyed a "decent working relationship" with her as an individual.

"However, the economic challenges facing Victoria continue to grow after a decade of financial mismanagement under Labor governments," he said.

"Now more than ever, Victoria needs an urgent change of course and a government that will respect them and their hard-earned money."