Political disruption fuelled by the Liberal Party’s faction in-fighting is “doing nothing for Australia’s economy” and will continue to “hurt the hip pocket” of everyday Aussies.
9NEWS Finance Editor Ross Greenwood said the Australian people are tiring after 11-years of leadership shuffling as the Liberal Party put the Prime Ministership to a vote this morning.
However, it is not just Australians. The economic commentator said the stock market will suffer as overseas investors become confused by the “mish-mash” of policies that have seen Australian energy prices soar.
“There has been no steady policy,” Greenwood said on TODAY Extra.
The Liberal Party Room appears divided after Malcolm Turnbull defeated Peter Dutton in a leadership ballot. (AAP)
“What this means if you are sitting there considering spending $1 billion on a new power station -doesn’t matter whether it is solar or coal or wind or hydro – you are sitting there I don’t know what the policy is, how am I going to invest that $1 billion?”
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He blames ideological differences and a “dissatisfaction with the ruling classes” for politicians’ failure to connect with their constituents.
“You have minority parties and independents who have held control and bargained all policy for their own political ends and as a result Australians have seen through this, they are not happy.”
He said politicians need to get on the same page with emission reduction and quickly work out if we are going to double-down on coal or pursue more subsidies for renewables.
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