New PM to address 'economic mismanagement' of Abbott's tenure

Sydney

THE well-oiled revolving door of Australian politics, which has cycled through five leaders in as many years, is earning the nation a reputation for instability which, according to at least one government lawmaker, is starting to resemble Italy.

The comparison is made tongue-in-cheek because Canberra is still much kinder to prime ministers than Rome over the longer term, but Australia's business community is not laughing. "In terms of business confidence, what we do need is stability," James Fazzino, chief executive of fertiliser and industrial explosives maker Incitec Pivot Ltd, said on Tuesday, after the nation awoke to yet another prime minister.