Sunday, 20 September 2015

New Cabinet, Canning and other things

The new Prime Minister Malcolm Turnbull has announced his new cabinet and in a nutshell it is better than the old one.
I am assuming Turnbull does not believe the trend rate of GDP growth has declined at all. Morrison's comments on this will be interesting.
They have the advantage of a declining $A which should start to boost the economy going into next year. They will both be hoping the economy is growing at 3% or more by the time people are voting.
I will be interested to see how fiscal consolidation goes. It has totally failed this far with both deficits and debt blowing out.

Some people have commented Turnbull appears comfortable as PM. It is an easier job to get than Opposition Leader. In Parliament everything is in favour of the government. something that vfew people and pundits appear to either understand or comprehend. We have yet to see if Turnbull has learnt any lessons from his dismal performance both in the Republican debate and as Opposition Leader.
Quite clearly the Opposition has yet to change their tactics from opposing Abbott. time will tell if they can change successfully. Thus far Shorten does not appear to be a man who is a policy wonk. He certainly will not sail into Government because he is facing the worst PM in out history.

Three things we can see from the Canning by-election.
Turnbull replacing Abbott reduced the size of the swing against the Liberals.
Both parties could say they 'won.'
Hastie was not a quality candidate. His criticism of the previous government on defence policy was either pure ignorance or for the basest political motives. He is also a poor public speaker. on the other hand the ALP candidate appeared pretty good and could talk on a realm of issues with confidence that eluded Hastie.

We live in interesting times.