Turnbull jeered, polls split

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It’s not much a honeymoon for PM Turnbull. His own party hates him, apparently, from The Age:

This weekend’s heckling of Malcolm Turnbull by the Liberal Party’s right showed only that he is a leader for the time in the way Tony Abbott never was.

The first guffaws from the crowd at the party’s state council came after the standard claim of Liberal leaders that theirs is not a party beset by factionalism.

The claim is obviously untrue, except in comparison with the destructive formal factions in Labor.

The din increased when Turnbull doubled down on his argument. Yet while embarrassing him on camera, the crankiness of conservative Liberal Party members confirmed that if any should wear the dubious label of being “out of touch”, it is them.

And if you believe Newspoll, with good reason:

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50/50 two-party preferred is awful for a new PM, though Turnbull gets a slight majority among Libs for booting the Abbottalypse.

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Thankfully for PMT, everything else is pointing at a rampaging lead. From Roy Morgan:

6491-vote-2ppIn In early October, in the second Morgan Poll since Malcolm Turnbull became Prime Minister, L-NP support rose to 56% (up 1%) cf. ALP 44% (down 1%) on a two-party preferred basis following the swearing in of the Turnbull Government’s new Ministry. If a Federal Election were held now the L-NP would win easily.

Primary support for the L-NP rose 1% to 47% (the highest L-NP support since the 2013 Federal Election at which the L-NP gained 45.5% support) while ALP support fell 2% to 27.5% (the lowest ALP primary support for more than three years since May 2012).

Support for the Greens rose to 14% (up 1%), Palmer United Party is 1.5% (unchanged), Katter’s Australian Party 1.5% (unchanged), while Independents/ Others are at 8.5% (unchanged).

This week’s Morgan Poll on Federal voting intention was conducted over the last two weekends, September 26/27 & October 1-5, 2015, with an Australia-wide cross-section of 3,011 Australian electors.

Betting markets have the Coalition even more un-backable. From Mark the Ballot:

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House Coalition Odds ($) Labor Odds ($) Coalition Win Probability (%)
2015-10-10 Betfair 1.15 5.08 81.540931
2015-10-10 CrownBet 1.28 3.65 74.036511
2015-10-10 Ladbrokes 1.25 3.80 75.247525
2015-10-10 Luxbet 1.18 4.50 79.225352
2015-10-10 Sportsbet 1.25 4.00 76.190476
2015-10-10 TABtouch 1.12 6.00 84.269663
2015-10-10 William Hill 1.13 6.00 84.151473
I tend to agree with betting markets.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.