Libs foolish to let Turnbull's skills go to waste

RARELY do I attend a business event without being asked if Malcolm Turnbull would return to the Liberal leadership before the next election?

RARELY do I attend a business event without being asked the question: do you think Malcolm Turnbull will return to the Liberal leadership before the next election?

My answer is always a firm no, for very good reasons. But that shouldn't be the end of the matter so far as Turnbull's role within the opposition is concerned. If the Liberal Party wants to give itself the best chance of victory at the next election, not to mention of becoming a good government thereafter, it will find a way to better engage with Turnbull's assets as a politician.

The former merchant banker's political career fascinates people in the business community. Some say "I told you so" when reflecting on Turnbull's leadership demise. Others question why anyone would ever pursue a political career "after the way Malcolm was treated".

But most business people I talk to can't believe his skills aren't being better utilised, and fail to understand the political backdrop to why that is the case.

The reasons Turnbull won't return to the leadership, certainly not this side of the next election, are linked to why he isn't being better utilised. One-third of the Liberal partyroom would be prepared to blow the place up before they would succumb to another go-round with Turnbull as leader. A further third know that and would rather not put themselves through such instability again. Throw in how dominant the Coalition is in the polls, and MPs focused on winning government don't want to unnecessarily threaten that prospect -- even though Tony Abbott's personal ratings aren't great.

Concerns about Turnbull being part of the team extend to fears (well founded or otherwise) that he leaks, that his ambitions get in the road of his willingness to focus on the job he is assigned to do, and that his philosophical views don't easily align with the dominant conservative wing of the party.

This is especially concerning to the right-wing powerbrokers in the current climate, where the carbon tax is the key policy issue.

But so long as Turnbull is in the parliament, leadership questions will always be asked of him. And like many of his colleagues, he has a right to be ambitious for the leadership. Let's not forget shadow treasurer Joe Hockey also contested the last leadership stoush, and he certainly hopes to lead the party one day. Ambition drives MPs to perform well, so long as they feel they are valued.

Turnbull's skill set would be best utilised by including him in the economic team. The easiest and least offensive way to do that would be to include him in the all-important Expenditure Review Committee, which makes the numbers add up -- for example, explaining how the Coalition can oppose the mining and carbon taxes yet promise paid maternity leave and income tax cuts.

Such an inclusion wouldn't require a portfolio reshuffle. Apart from the holders of economic portfolios, the committee includes Peter Dutton and Barnaby Joyce. The former was Peter Costello's assistant treasurer during the Howard years and the latter is the Nationals representative.

Why not add Turnbull? He is a self-made multi-millionaire, and has run large and small companies -- something no other Liberal MP can claim to have done. And Turnbull's knowledge of sound fiscal management is complemented by his interest in policy, which makes him a perfect candidate for ERC.

The notion that Turnbull could face a personality clash with other members of the committee -- such as Hockey, who feels betrayed by Turnbull contesting the leadership after losing the spill in late 2009, when he believed they had an understanding he wouldn't -- can be dismissed, given the members of the committee already have issues with one another. Joyce and Hockey regularly argue over policy scripts, and Hockey and Andrew Robb don't exactly get along. That's politics.

Giving Turnbull ERC responsibilities would show he was valued and his skill set was being fully utilised. It would be a way Abbott could send a message that he isn't trying to sideline Turnbull just because the pair disagree on the best way to tackle climate change.