The new Opposition front bench rewards those who supported the new leader, but does not do so at the expense of the Coalition’s strengths. Malcolm Turnbull may have the massive ego that his enemies like to complain about, but it evidently has not prevented him from becoming a shrewder judge of power plays in the party room than he was 10 months ago.

The most spectacular victim of Malcolm Turnbull’s cabinet reshuffle was Tony Smith. The former Peter Costello supporter, who voted for Turnbull last year but switched to Brendan Nelson last week, paid a heavy price by being given the role of shadow assistant treasurer. Smith will be back at some stage but his only consolation yesterday was platitudes from Turnbull about being part of a crack financial team.

The new Opposition Leader named sustainable development, in all areas including cities, as his key personal policy interest, signalling a dramatic departure from the direction of the Howard government, which saw no role for the commonwealth in urban affairs. But as Mr Turnbull trumpeted his forward-looking approach, Labor’s Julia Gillard said his team was stacked with climate-change sceptics and cheerleaders for Mr. Howard’s Work Choices industrial relations laws.

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.