The Aussie opposition elects a new leader...

Malcolm Turnbull's job...focusing the Liberal agenda on the biggest issue on Australians' minds: the economy. GDP expanded 0.3% in the second quarter, business confidence is slumping, and annualized consumer inflation is expected to reach 5% by December. The ruling Labor Party has responded by rolling back labor-market reforms, collecting taxes on alcohol and expensive cars before the authorizing legislation had even passed, and promising a massive tax on business in the form of an emissions trading scheme. Mr. Turnbull should drive a truck through this political opening, emphasizing how lower taxes and smaller government can help raise productivity, attract investment and buffer Australia against economic headwinds. Yesterday he said government's role is "to empower and enable the enterprise, the dreams, the ambitions of Australians."

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