Malcolm rises

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From the AFR, the politically astute Arthur Sinodinos has refused to endorse Tony Abbott:

“Comrade, come and ask me next week,’’ Senator Sinodinos said at the end of an explosive interview on Sky News on Wednesday .

…In what some regarded as a tacit endorsement of Malcolm Turnbull, Senator Sinodinos counselled that if there were to be a change, the replacement must bring with them a strategic shift. At no time did he state Mr Abbott must stay in the job.

Speculation is hardening around a shift to Mr Turnbull as leader, Julie Bishop staying as deputy and Foreign Minister, and Scott Morrison replacing Joe Hockey as Treasurer.

One condition being placed on Mr Turnbull returning is that he does not try to embrace a policy of carbon trading, the issue which split the party and ended his leadership in 2009.

Arty was one of the primary reasons behind the success of John Howard. He has a good ear for the electorate.

As for Scott Morrison, that’s a joker in the pack. He’s got no credentials.

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On carbon trading, that’s pretty much a goner I would have thought, at least until it’s obvious that everyone else is doing it. But without it, a credible carbon policy will punch an enormous hole in the Budget at a time when downgrades are mounting. Tony Abbott’s economic ineptitude really has wedged his own party across the board.

But at least the Party may be bowing to the inevitable. Malcolm Turnbull and a move to the centre is their only hope of retaining power, as slim as it now is. Or is it moving at all? From BS:

Some sources within the Liberals are quoting a figure of at least 30 supporters for a spill, which is not near the majority needed to pass the motion, while others say the numbers are more like 10-15.

Asked whether he would step aside to test his support on Tuesday, Mr Abbott said no one wanted to return to the leadership chaos of the Labor years.

“I am determined to deliver steady, stable, solid, dependable government,” he said.

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That is perhaps the purest statement of political delusion in the history of Australian power.

Move swiftly, Libs, you’re taking the economy down with you.

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.