09-08-2016, 01:36 AM
AUSTRALIAâS triple-A credit rating will be downgraded if the Turnbull Government canât manage its âwafer thinâ majority and pass budget savings measures, former treasurer Peter Costello says.
The stern warning comes as former cabinet minister Eric Abetz hit out at Prime Minister Malcolm Turnbull over the Coalitionâs superannuation policy and his failure to promote conservatives, such as former PM Tony Abbott, to the frontbench.
Mr Abbott said while he wonât return as party leader, he wants to influence the future direction of the Liberal Party over the next three years to try to âcrystallise and clarify where centre-right politics in this country goesâ.
Speaking to the ABC TVâs Four Corners program, Senator Abetz issued his own warning to senior Government MPs saying: âit will only take one person or two in the House of Representatives to cross the floor to defeat Government legislation.â
Peter Costello has warned Turnbull is under pressure to maintain Australiaâs credit rating.
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Abbott - their self interest is bad for our democracy...
âIf we keep going full steam ahead and pretend that nothing happened on the Second of July ... we will be going to an electoral disaster in 2019.â
The conservative Senator is leading a push within the Coalition to change the Governmentâs superannuation policy which targets generous tax breaks.
With one member of the Coalition â conservative Queensland MP George Christensen â already threatening to cross the floor if policy isnât changed, former treasurer Peter Costello said Mr Turnbull will be âbeholdenâ to his backbench.
Mr Costello â who was treasurer under former prime minister John Howard â said it will be an âalluring prospectâ for Coalition MPs to sit on the crossbench.
âThis is the risk on any particular issue at any particular time, not that these people will cross the floor, but theyâll threaten to go independent.â
He said the Governmentâs one-seat majority has rattled ratings agencies who now believe the chances for budget repair have declined.
âWill we make any progress on our budget deficit? Will we be able to reduce debt? If weâre not able to do that, if the political situation stops us from doing that, thatâs the time weâll get a downgrade,â the former treasurer warned.
During the one hour program which examined the challenges facing the Coalition, former PM Tony Abbott also called for reform within the NSW Liberal Party saying lobbyists are acting as powerbrokers and creating âa potential for corruptionâ.
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http://www.news.com.au/national/malcolm-...acfc3d4280
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Looks like the destabilisation has already begun :officechair:
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Let's have an early election
The stern warning comes as former cabinet minister Eric Abetz hit out at Prime Minister Malcolm Turnbull over the Coalitionâs superannuation policy and his failure to promote conservatives, such as former PM Tony Abbott, to the frontbench.
Mr Abbott said while he wonât return as party leader, he wants to influence the future direction of the Liberal Party over the next three years to try to âcrystallise and clarify where centre-right politics in this country goesâ.
Speaking to the ABC TVâs Four Corners program, Senator Abetz issued his own warning to senior Government MPs saying: âit will only take one person or two in the House of Representatives to cross the floor to defeat Government legislation.â
Peter Costello has warned Turnbull is under pressure to maintain Australiaâs credit rating.
Â
Abbott - their self interest is bad for our democracy...
âIf we keep going full steam ahead and pretend that nothing happened on the Second of July ... we will be going to an electoral disaster in 2019.â
The conservative Senator is leading a push within the Coalition to change the Governmentâs superannuation policy which targets generous tax breaks.
With one member of the Coalition â conservative Queensland MP George Christensen â already threatening to cross the floor if policy isnât changed, former treasurer Peter Costello said Mr Turnbull will be âbeholdenâ to his backbench.
Mr Costello â who was treasurer under former prime minister John Howard â said it will be an âalluring prospectâ for Coalition MPs to sit on the crossbench.
âThis is the risk on any particular issue at any particular time, not that these people will cross the floor, but theyâll threaten to go independent.â
He said the Governmentâs one-seat majority has rattled ratings agencies who now believe the chances for budget repair have declined.
âWill we make any progress on our budget deficit? Will we be able to reduce debt? If weâre not able to do that, if the political situation stops us from doing that, thatâs the time weâll get a downgrade,â the former treasurer warned.
During the one hour program which examined the challenges facing the Coalition, former PM Tony Abbott also called for reform within the NSW Liberal Party saying lobbyists are acting as powerbrokers and creating âa potential for corruptionâ.
Â
http://www.news.com.au/national/malcolm-...acfc3d4280
Â
Looks like the destabilisation has already begun :officechair:
Â
Let's have an early election