Newly elected Liberal Party leader and Prime Minister designate Malcolm Turnbull has said he will lead a "thoroughly liberal government", committed to individual freedom and the market, and vowed to carefully explain and consult heavily on policy.
Newly elected Liberal Party of Australia leader and Prime Minister designate Malcolm Turnbull has said he will lead a "thoroughly liberal government", committed to individual freedom and the market, and vowed to carefully explain and consult heavily on policy.
Mr Turnbull was elected the leader of the federal Liberal Party in a ballot last night, by a margin of 54 votes to 44, and as such will become Australia’s 29th prime minister.
Julie Bishop was re-elected deputy leader in a ballot against Kevin Andrews, continuing a position she has held for eight years.
She is expected to remain as foreign minister.
After the declaration, Mr Turnbull said the nation owed a great debt to Tony Abbott.
"The burden of leadership is a very heavy one," he said.
"Tony has discharged that ... and the achievements of the government he has led have been formidable."
Mr Turnbull highlighted the China-Australia free trade agreement and border security as two key policy successes.
He said the country would have an economic vision, with a leader who would explain the challenges and opportunities facing the country.
"This will be a thoroughly liberal government ... committed to freedom of the individual and the market," Mr Turnbull said.
"The Australia of the future has to be a nation that is agile, that is innovative, that is creative.
"We have to recognise that the disruption that we see driven by technology, the volatility in change is our friend if we are agile and smart enough to take advantage of it."
Mr Turnbull told a media conference there would be ministerial changes but declined to provide details, instead saying he would focus on the culture of the govenment.
He indicated the ministry would focus more on joint decision making, noting that under the Westminster system, the leader was not a president.
Mr Turnbull also said his assumption was that the govenment would run its full term.
Number 29
Mr Turnbull will succeed Mr Abbott just more than two years after the Liberal Party won a resounding victory in the 2013 federal election.
That makes him the fourth prime minister in just more than two years, after Julia Gillard lost office to Kevin Rudd in a leadership spill in mid-2013.
Mr Rudd then lost in a federal election to Mr Abbott.
Mr Turnbull has been a member of parliament for around a decade, after a successful career in law and banking.
Like Mr Abbott, Mr Turnbull was a Rhodes Scholar and studied at Oxford University in the UK.
As a lawyer, he famously acted in the 'Spycatcher' trial, stopping the then British government from banning publication of a book by a former MI5 agent.
He then worked as an investment banker and headed the Australian Republican Movement during the 1999 referendum campaign.
Seismic change
Events started at 4pm EST yesterday when Mr Turnbull announced he had resigned his portfolio as communications minister and had asked Tony Abbott for a leadership ballot.
His pitch focused on economic credibility.
“A style of leadership that respects the people’s intelligence, that explains these complex issues, and then sets out the course of action we believe we should take," Mr Turnbull said.
“It is clear that people have made up their mind about Mr Abbott’s leadership.
“Our party, the Liberal Party has the right values … of free enterprise, of entrepreneurship.
“What we’ve not succeeded in doing is translating those values into the policies."
Mr Abbott moved quickly to announce a vote that evening, saying that the country deserved better.
"I have been heartened by the messages of support flooding into Liberal MPs' offices this evening saying most emphatically, 'we are not the Labor Party'," Mr Abbott said.
"This country needs strong and stable government and that means avoiding, at all costs, Labor's revolving-door Prime Ministership.
"Since coming to Government, our team has stopped the boats, improved the budget, cut taxes and increased jobs.
"We have laid the foundation for a better deal for families and for small business.
"You can trust me to deliver a stronger economy and a safer community."
Mr Abbott did not speak to the media last night after losing office.