Ms. Bishop exercised her right as deputy Liberal leader to claim the treasury prize, and becomes the first woman to hold the treasury portfolio on either side of politics. Meanwhile, the Opposition Leader has dumped Bronwyn Bishop, Jo Gash and Pat Farmer from the shadow ministry.

The situation in New South Wales is similar to the state of affairs when Jeff Kennett came to office in 1992. For years, Victoria had been an economic basket case. Did Kennett respond, as Barry O’Farrell has done, by ignoring policy and presenting a small target? He did not. Instead, he and his supporters prepared to govern.

The Opposition Leader has decided he cannot place Joe Hockey in the workplace relations role because he held the portfolio during the Howard years. Mr. Turnbull is also likely to dump key Brendan Nelson supporters and reward several ambitious backbenchers who backed him in this week’s leadership ballot with posts in the outer ministry.

For whatever reasons, Brendan Nelson’s poll figures are dismal, his impact nowhere to be seen, and under his leadership, the Opposition is going backwards. Senior Liberals need to learn from history and not make the same mistake they made with Howard in 2006: someone needs to tell him that it is time to go.

With the outcome of the Western Australian election in doubt and upheavals in New South Wales, the aftershocks of the weekend’s ruptures in the Labor Party will be felt in Canberra. But other parties also have their problems. From coast-to-coast Labor governments to coast-to-coast confusion has taken a mere 10 months.

Amid the train wreck that the Senate became last week there was one consistency - everybody concerned claimed they had a mandate. The highlight was when the Coalition and Family First’s Steve Fielding knocked off the increase to the luxury car tax, worth $555 million over four years.

Andrew Robb, who engineered Mr Howard’s 1996 victory, proposed during APEC that a delegation be organised to ask the then-prime minister to resign. Initially, there was “a lot of interest” from his colleagues, but it dissipated on the following day when a Newspoll showed the Coalition’s position had improved marginally.