Obituary | Michael Egan had sights on becoming an MP from boyhood

Two years after that disappointment in 1984, he was in a position to replace Barrie Unsworth on his retirement from the upper house, and to become the state's longest serving treasurer.

Michael Egan AO has died at 75 after a long illness.

Premier Chris Minns said "Michael dedicated his long career to serving the people of NSW".

While he was treasurer, NSW had all but eliminated net government debt while also investing heavily to improve essential services and infrastructure and hosting the Olympic Games.

"While Labor to his bootstraps and not one to 'altercate in undertones,' Michael cherished our democratic institutions and always acted to ensure they deserved the public's trust," Mr Minns said.

"Impatient with theorists and purists, he excelled at producing economic and social reforms through the messy compromise of politics.

"He drove changes to make NSW ports, energy, rail and water more competitive, reducing prices for households and businesses, improving living standards and creating jobs.

"After politics he continued to dedicate himself to serving his community, including as Macquarie University's longest serving Chancellor, from 2008 to 2019.

Raised in the shire, Mr Egan was the first student enrolled at St Patrick's College, Sutherland in 1956.

He was present at the opening of Sutherland Hospital in 1955 and proud as treasurer to provide funding for its $83 million redevelopment.

He told parliament he remembered "Mrs Partridge singing Bless this House".

"I also remember telling [Health Minister] Mr Sheahan that I wanted one day to become a Labor member of parliament," he said.

"Mr Sheahan was the first of only two politicians [the other was Peter Costello] to pat me on the head, and the only one I remember fondly for it.''

Mr Egan stood for the seat of Cronulla in 1970 at the age of 22, won it on his fourth attempt at the 1978 "Wranslide", retained it in 1981, but was beaten in 1984.

"The good citizens of Cronulla did me a favour in 1984,'' he told the Leader on his retirement in 2005.

His political career wasn't without its problems.

The Liberals never stopped reminding him he was president of Cronulla Workers Club when it folded with big debts, and he had to apologise to, and pay the legal costs of, a shire motor dealer he wrongly maligned in state parliament.

Former Miranda MP Barry Collier said, as Treasurer, Mr Egan approved an unprecedented volume of government spending on much needed shire infrastructure, including the Woronora Bridge, Bangor Bypass, Miranda Five Ways, the Cronulla Tertiary Sewage Treatment Plant, Sutherland Hospital redevelopment and Cronulla line rail duplication.

"Beyond these projects, my lasting memory of Michael Egan was his visit with me to old, disused 5-hectare Sydney Water site in Bellingara Road Miranda, soon to be put up for sale on the open market," he said.

"There, we discussed my proposal that the land should be earmarked for a low cost, aged care village. Acutely aware of this shortage of aged care in the Shire, Micheal later placed such restrictions on the sale so that the site land could only be used for affordable aged-care accommodation of the kind we see there today.

"Michael Egan had the vision and the foresight to make funding decisions which would bring lasting benefits to the residents of the Shire, and we acknowledge and thank him for his outstanding contribution to us and the people of the State."

Mr Collier said Mr Egan was a friend and mentor to him, encouraging him to stand for parliament and opening his campaign offices in 1999 and 2003.