|
 Private anger bubbled over after Abbott emerged wounded this week
from a leadership challenge within his ruling Liberal Party, a
confrontation that also damaged the traditionally close relationship
between his party and business leaders.
Australia's business leaders almost unanimously united behind Abbott
when he pledged during his 2013 election campaign to end the
instability that marked previous center-left Labor Party
governments.
Within months Abbott's pugilistic style and policy missteps - from
his handling of the economy to awarding Queen Elizabeth's husband
Prince Philip an Australian knighthood - have proved hugely
unpopular with the public and divisive within his party.
The uncertainty that has created has become "poisonous" for investor
confidence, said Kate Carnell, CEO of the Australian Chamber of
Commerce and Industry.
"Do we feel like, 'okay, everything's okay now?' We don't. We feel
like he's been given ... six months to deliver and I don't think
there is a huge, overpowering confidence that that's going to
happen," Carnell told Reuters.
 His obsession with political "trench warfare" against the opposition
Labor Party rather than reforming Australia's wobbly economy was
reflected in this week's unemployment figures, which jumped to 6.4
percent from 6.1, the worst since 2002, she said.
"We don't want him to focus on beating Bill Shorten." Carnell said,
referring to the Labor Party leader. "We want him to focus on
running the country."
On Wednesday, the head of the Commonwealth Bank of Australia echoed
Carnell's fears in unusually sharp public criticism of the
government from a business leader and he was soon joined by David
Thodey, CEO of Telstra, Australia's largest telco.
“The business community is looking for stability in leadership and
stability in vision for the country. That’s what we need because as
a business we work off certainty,” Thodey told a news conference.
Abbott's trouble with business began early in his tenure, said Peter
Chen, political science professor at the University of Sydney.
[to top of second column] |
His refusal to pursue industrial relations reform, a failed push for
paid parental leave funded by a tax on industry, and lack of policy
focus has broken any remaining support from industry.
"They don't just dislike him, they kind of actively hate him because
he is so quixotic," Chen said.
Several sources said a move to replace Abbott with Communications
Minister Malcolm Turnbull, a millionaire lawyer and former
investment banker, would be welcomed.
A Sydney-based financial services lawyer said Turnbull would be a
welcome change because of his center-right views and business
background.
"We need somebody who is moderate, and it is Turnbull who can get us
some stability. Businesses will be very happy with a change," he
told Reuters, on condition of anonymity.
Abbott is working against the clock if he to win back the business
lobby.
On Friday, a Labor government was installed in Queensland state
after a massive swing against the incumbent conservatives that was
also seen as a referendum on Abbott's rocky tenure.
(Additional reporting by Swati Pandey and Byron Kaye; Editing by
Paul Tait)
[© 2015 Thomson Reuters. All rights
reserved.]
Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
