Addressing the media on Monday, he said he had not made deals with any parliamentary Liberal Party members ahead of Monday's anticipated leadership ballot.

With the resignation of Will Hodgman, cabinet will be one minister down.

"There will be minimal disruption in terms of the new cabinet but I want to have those conversations with my colleagues," Mr Gutwein said.

He said he expected Sue Hickey would remain in the speaker's chair.

Mr Gutwein would not speculate whether former government minister Jacqui Petrusma, who resigned last year for health reasons, would return to cabinet.

But he said her health had improved.

Mr Gutwein said staff in the premier's office would be changed and his chief of staff would replace Mr Hodgman's chief of staff Tim Baker.

Mr Baker was appointed to the position following the 2018 state election.

Mr Rockliff said he would retain the education and mental health portfolios.

He said he had considered taking on the leadership role last week.

"We can't all be premier and you have to look at what's in the best interests of the team," Mr Rockliff said.

"And the best interests in the team in my view moving forward is Peter Gutwein as the leader of the team."

Labor leader Rebecca White said Mr Gutwein's track record as Treasurer left a lot to be desired.

"We have a budget that is spiraling into a billion dollars of net debt and $450 million in budget cuts yet to come," she said.

"Peter Gutwein's record as Treasurer hasn't been as rosy as he makes it out to be."

Greens leader Cassy O'Connor said Mr Gutwein should consider the creation of a climate change portfolio.

She too wanted to see him handover the treasury portfolio.

"There should be a clear distinction between the Premier and the Treasurer so that you have that healthy tension over funding priorities," Ms O'Connor said.

"Whoever is the next Treasurer needs to have a good clear mind but also a heart for people."