In last week's Newspoll, Labor recorded its highest approval rating as an economic manager, outscoring the Coalition on this measure for the first time since 1990; 44 per cent of respondents nominated the ALP as the best party to handle the economy, over 39 per cent for the Coalition.
The significance of the result is that it erodes the Coalition's most valuable strategic advantage over Labor, its economic credibility. Education, health and the economy are the real vote-shifters in Australian federal politics and Labor owns the box set. How has this come to pass?
via www.theaustralian.com.au
A remarkable achievement given that Abbott has been leader for just a few months.
With Howard, Costello, Minchin and now Turnbull lost to the Coalition its credibility on economic management is sinking like a stone. Abbott's decision to install Barnaby Joyce as finance minister was a complete disaster. Andrew Robb will be better, because he'll say a lot less. But Abbott would have done better to show confidence in his own leadership and bring Turnbull back inside the tent by giving him a senior front bench position.
Worse still was Abbott's economic headland speech, delivered in a halting, uncertain monotone before a small audience last week, which had everything except a clear understanding and vision for economic policy. It was a stump political speech, not a coherent piece of policy work. It had all the trademark Abbott oneliners and smears and self-justifications. Abbott did not allay any of the growing concerns that he just doesn't get economics. It is clear that Abbott and his policy team are either clueless, lazy or both when it comes to economic policy.
Losing Turnbull will only serve to underscore the lack of economic talent on the Opposition frontbench.