A fundamental element of the collapse in the electoral standing of the Liberal Party, perhaps even more important than the disunity, disloyalty, and factionalism, certainly of greater longer-term significance, is how it has completely lost sight of what a Liberal stands for, what a Liberal believes in.

It is fashionable, of course, in Liberal circles, to attempt to draw some “authenticity” by reference to Menzies. Let me suggest that Menzies would be turning in his grave with the policy drift of the current lot of politicians presenting under the Liberal banner.

An abuse of power ... and an anti-Liberal intervention in the market. Credit:James Davies

Liberals have traditionally believed in small government, low regulation, and reliance on markets and market processes. It is therefore most concerning that these defining beliefs have been so easily jettisoned, as a short-term political expedient, in what is just the last manifestation, but just one of many, of what they claim as an “energy policy”.

The “true” Liberal response to the climate challenge would and should be – and has been on a couple of previous, but opportunistic, occasions, under the likes of Howard and Turnbull – to put a price on carbon via a “pure” emissions-trading scheme. This would be the most cost-effective response by charging, in simple terms, polluters for their pollution.