He talks tough, but no new message

THIS was a restrained, pragmatic Tony Abbott.

One offering messages, not money, and gambling that the Coalition's momentum and Labor's circus will get him across the line

The central theme in the Opposition Leader's policy speech was his pledge of "grown-up" government against Labor's "soap opera". There was no lofty rhetoric, no new spending spree, no fresh direction.

It was tough and targeted. Abbott, in effect, campaigns to restore order and tradition to the nation after the Rudd-Gillard experimental excesses.

This launch was the latest stage in the re-casting of Abbott. Once divisive and muscular, he now projects himself as a leader of stability and "real action" - a departure from Labor's self-obsessions and endless spin.

In truth, rarely has an opposition leader come to the brink of victory with so limited an agenda. He makes five pledges for day one of Abbott as PM: lifting the mining and carbon tax threats, neither of which is legislated; ringing the President of Nauru about the offshore processing centre; safeguarding the livelihood of fishermen; and suspending the "schools hall" program with funds redirected to school communities.

The sunlit uplands are not in sight. Abbott presents himself as Mr Common Sense talking to mainstream Australians.

Hence the Opposition Leader's campaign mantra to "end the waste, pay back the debt, stop the big new taxes, stop the boats and help struggling families".

It is about action, not reform.

It is about saving the nation from Labor.

Abbott's agenda perfectly exploits the Gillard-Rudd woes.

The question is: should Abbott have done more to generate fresh momentum?

Liberal strategists know the election hangs in the balance, yet Abbott chose to repeat, not expand, his policy framework.

This reflects the imperative for fiscal restraint, unlike the 2007 election, and the Liberal belief that many voters, still disengaged, are yet to hear even the elemental Abbott message.

On boats, Abbott pledged tougher laws against people-smugglers, a predictable response.

On welfare, his commitment to tackle intergenerational poverty was vague and disappointing.

On tax, Abbott promised a new "round of tax reform" based on the Henry report, but gave no details apart from saying the Coalition would outline its plan within the first 12 months.

But Abbott gave a critical signal that in office he would follow the Howard model of economic liberalism and social conservatism.

As a liberal, he promised lower taxes and smaller government.

As a conservative, he backed a "fair go" for families and "values which have stood the test of time".

Ultimately, Abbott's policy speech pivots about two ideas - don't be conned by Labor into giving it a second chance, and realise that the Abbott-led Coalition is now ready to govern.