Looks like he has finally got his feet under the table.
Well that was disappointing for me personally but perhaps Abbott is not such a bad thing.
Things have been going back and forth in the ALP camp for some time, although admittedly I do like the policy perhaps economically speaking it’s a good thing Ruddy is out.
First off the bat will be the removal of Carbon Tax laws in the first sitting of the new house this October.
In an election debate where the real question on climate policy – how to reach the targets guided by the science (i.e. 25 per cent or more) – has never been raised by the mainstream parties, Abbott revealed that he was quite prepared not to even make it to first base/believe in Science. If the budgeted $3.2 billion proved to be insufficient to reach the 5% reduction target – as Treasury and private analysis conclude unanimously – he would not spend another dollar to ensure that it does.
Putting aside Australia’s record high temperatures over the last 12 months, and just three weeks ahead of the IPCC report, the fact that the ALP couldn’t agree on the tax has left us in the same situation we are in now with the non-believer Abbott. Perhaps once he has brought the house together he can return some confidence to the market.
On that note, if he can bring some order to things his side the hung senate should hopefully be a bit easier to navigate. The persuasion may be in his favour so should be able to deals but when there are deals to be made in the senate there is a price to pay. As the numbers stand, eight minor party senators from separate groups, some of them virtually unknown entities with no track record and no known policies, will be given the power to decide whether or not each government bill should be passed.
We owe this miracle to the fact that roughly 25% of the votes on Saturday went to the downright odd and obscure parties. It’s almost as if the ‘people’ couldn’t care less, or realise that we are between a rock and a hard place with these two. A gloating winning speech followed by a gloating outgoing speech on the night told a different story. Even if this was a time when you 'know you have given it your all', and time for the old guy to step down we could have had more positive change then this. As the ALP seeks to maintain as a fighting force for the future I hope for all of us we are directed towards a more definite and confident market in the interim.