Albo does not deserve a second term

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The writing was on the wall for Albo in his first week.

While Australian energy markets were melting down on Ukraine War profiteering by the gas cartel, Albo was busy talking up how he would aim for a two-term government.

Any PM who is so focused on re-election as his top priority has no interest in doing the country any good.

Let alone amid a generational crisis about which he waited eight months to do anything and thus unleashed the worst crash in living standards in one hundred years.

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Does such a fool deserve re-election? Of course not. He has soft-peddled every policy decision through a period when strong leadership was vital to the national interest.

As such, Albo has:

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  • delivered three years of per capita recession;
  • betrayed critical election promises of higher wages over higher immigration;
  • created an ersatz federal corruption watchdog;
  • signed unbelievably bad deals shredding the labour market border with India;
  • dropped a bomb on housing markets such that a price crisis became a rental and homelessness crisis for the first time;
  • destroyed the energy transition by embedding the gas cartel;
  • re-attached the economy to China after it made abundantly clear how dangerous that is through and after COVID, and
  • done no serious reform.

Frankly, Albo should be in the docks for treason, not running for re-election.

Not surprisingly then, punters now have him at ScoMo plague lows.

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TPP is still edged to the LNP, though not enough to win outright.

This can only be sheeted home to Peter Dutton because Albo’s destruction is so widespread that the LNP should win in a landslide.

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YouGov says he might.

The results of pollster YouGov’s latest MRP model suggest the Coalition would be likely to win about 73 seats, with a lower estimate of 65 and upper estimate of 80, if a federal election was held today.

The modelling indicates Labor would hold about 66 seats in the next parliament, with a lower estimate of 59 and an upper estimate of 72.

Dutton is not much of an alternative, but Albo’s got to go.

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.