Peter Costello has announced he will not seek the Leadership of the Liberal Party, and also stand down as Deputy Leader. One has to feel sorry for him – so long waiting for the top job and now not worth having when it is finally his.
This now provides fascinating opportunities. Turnbull is not that popular with his colleagues (he was the Chairman of the Republican Movement). Tony Abbott may stand, and he is a brawler who would be an effective opposition leader. A good team could be Abbott as Leader and Turnbull as Deputy and Finance. Turnbull is very committed to massive tax reform.
It will be interesting to see who stands.