Albo to run as Labor toys with carbon suicide

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From the AFR:

The Labor Party could be headed for a month-long leadership battle after former deputy Anthony Albanese told Bill Shorten he intends to run.

Mr Shorten has already indicated internally he will stand, meaning unless one of them backs down, rules adopted before the election will be invoked and the leader will be chosen by Members of Parliament and regular Labor members over 30 days.

While Prime Minister-elect Tony Abbott beds down the new government, a Labor leadership contest has the potential to become a de facto ­campaign over the carbon tax.

Elements of Mr Shorten’s Right faction broke ranks on Wednesday and said Labor should allow the Coalition to abolish the carbon tax and emissions trading scheme.

Former trade minister Richard Marles and South Australian MP Nick Champion, who survived a strong swing against him in his seat of Wakefield, led the calls for Labor to respect Mr Abbott’s mandate.

“Emissions trading is a system designed by market economists to appease the Green fundamentalists,” Mr Champion told The Australian Financial Review.

“We shouldn’t be surprised that Labor voters don’t like it. They don’t like markets and they don’t like the Greens.”

The question that killed Kevin Rudd and Julia Gillard is what does Labor stand for? If it’s going to flip again on carbon pricing how are we going to be any better informed on that front?

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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.