One term Tony loses his first state

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Let’s face it, Tony Abbott not Dennis Napthine was just voted out after one term in Victoria. The question that really matters is why? Phillip Coorey of the AFR had a nice piece on the weekend offer:

As the political year draws to a close, Liberals are not panicking but they are scratching their heads as to how it all went wrong so quickly.

…For the Abbott government the culprit is the May budget, a document so laden with broken promises, surprises and excuses and, crucially, perceived as unfair, it has sent the government reeling in the polls and crippled its credibility. The impact has been more marked because, in opposition, Abbott had campaigned on trust more than anything else. He said the trust deficit, created by former prime minister Gillard’s broken promise on the carbon tax, was even larger than the fiscal deficit.

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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.