Governments enjoying surpluses have a very strong temptation to splash money around, and while tax cuts are always appealing, cutting taxes at the top of a boom runs the real risk of creating a structural deficit when the boom subsides.

Turnbull is a supporter of the Sydney Roosters rugby league team in the Australian National Rugby League and the Sydney Swans in the Australian Football League. Turnbull instructed the party to support CPRS despite significant disagreement among his colleagues. The Liberal vote fell 10 per cent but Turnbull still won.

Malcolm Bligh Turnbull (born 24 October 1954) is an Australian politician. He served as the federal Minister for Environment and Water Resources in 2007. He has been a member of the Australian House of Representatives since 2004 and was Leader of the Opposition and parliamentary leader of the Liberal Party from 16 September 2008 to 1 December 2009.