Malcolm Turnbull ... retiring from politics. In a statement released this morning, Mr Turnbull rued that decision. "I thank [former prime minister] John Howard for giving me the opportunity to serve as environment and water minister. With his support I was able to ensure that for the first time in our history the interstate waters of the Murray Darling Basin were placed under national responsibility," he said. "However, I regret that another important reform begun during that time, the establishment of an emissions trading scheme, is no longer Liberal Party policy." Mr Turnbull made his decision after being overlooked by Mr Abbott for the frontbench.

He indicated a willingness to return following the resignation of Senator Nick Minchin from the shadow cabinet. But Mr Abbott knocked him back, saying it would be impractical, given Mr Turnbull's stance on the ETS. Mr Turnbull will stay in his marginal eastern suburbs seat until the election. Mr Turnbull announced the news on his Twitter account before releasing a statement on his decision.

His decision to quit means Joe Hockey remains the only viable leadership alternative in the event of a poor election showing by the Coalition

The Liberal Party will begin a preselection process quickly. Labor has been holding off from choosing a candidate until Mr Turnbull made up his mind. It, too, will move quickly to find a candidate. Mr Turnbull entered parliament at the 2004 election.

He had been encouraged to postpone his decision until after the election.

If the Coalition went backwards under Mr Abbott, there was a chance Mr Turnbull’s leadership fortunes could have been revived. His decision to quit means Joe Hockey remains the only viable leadership alternative in the event of a poor election showing by the Coalition.



Mr Abbott today refused to say whether he tried to dissuade Mr Turnbull from quitting politics. Speaking in Sydney, Mr Abbott said that he was not pleased by Mr Turnbull’s decision to resign at the next federal election. ‘‘I am disappointed, but I respect and understand his [Mr Turnbull’s] decision,’’ he said. ‘‘I think Malcolm has been a marvellous contribution to public life over many years.’’

Mr Abbott said that he could not offer Mr Turnbull a frontbench position while the ETS was still being debated.

He had promised the former Liberal leader a senior ministry should the Liberal Party win government at the election.

In an interview on Sky News after his announcement, Mr Turnbull referred to the "fairly trying circumstances" in which he lost the Liberal leadership last December. He denied he had run out of patience to become prime minister, saying time was simply not on his side. "I'm 56 in October. If I was 46, I may well [have made] a different decision," he said.

He said he would leave parliament "without any bitterness or resentment". "This is a very tough business, politics," he said. "It's easy to get resentful or full of bitterness ... [but] I took a very different approach. I think hatred hurts the hater more than the hated. "So I'm looking back on my time positively." He said he believed the best thing was to move on after losing the leadership in trying circumstances. "Having got to the top of my own party, having become the leader, and then that having come to an end in some fairly trying circumstances, I think the best thing ... is to move on," he said.

"The decision we've taken is that this is the right time to move on, to do other things."

Mr Turnbull said some former leaders had staged spectacular comebacks, citing Mr Howard as an example, but said this was not for him. He said he "threw everything I had" into commitment to public service, as a politician. Mr Turnbull said the ambition to become prime minister had been thrust on to him. "A lot of people have projected on to me very grand ambitions," he said.

"Clearly it was my ambition to be prime minister because I was leader of the opposition." Mr Turnbull said he had no dreams of leadership in his first term, when Peter Costello seemed to have the succession "completely sewn up". "My ambition was to make the best and most effective contribution that I could so long as I was there, and to throw everything I had into my work as a member of parliament," he said. Pressed on his feelings toward Mr Abbott, Mr Turnbull refused to offer anything but praise. "He is a great communicator, he's very determined," Mr Turnbull said. "I have always had a very high regard for Tony and his political skills."

Mr Turnbull denied he was leaving his post because Mr Abbott was taking such a tough stance on issues such as the environment and border protection. "Obviously we have a major difference of opinion on the emissions trading scheme," he said. "But really, these decisions about whether you run for parliament or whether you stay in parliament are very personal ones." Mr Turnbull said he made the decision to leave politics with his wife Lucy and their children. "This is the right time for me to move on and do other things - to do other things with Lucy, in fact," he said.

Mr Turnbull said he could not have served on a Coalition frontbench under Mr Abbott given their well-known differences over an emissions trading scheme. He said he and Mr Abbott had discussed his future, most recently last week following the resignation announcement of Senator Nick Minchin and the need for a reshuffle. "Tony's going to the election on a big no emissions trading scheme platform," he said. "He says there should be no emissions trading scheme. "It is very well known that I support an emissions trading scheme. Of course that was the Liberal Party's policy until December 1." Mr Turnbull said he backed the deal he negotiated with the government over amendments to its ETS when it was before the Senate.

"I think realistically it would be hard for me to be on the frontbench of Tony's team given that that is going to be a key election issue," he said. Mr Turnbull said his time in politics had lived up to and let down some of his expectations. "I actually found [parliament] to be in some respects better and in some respects worse," he said. He said he felt privileged to represent the people of Wentworth. Loading

Prime Minister Kevin Rudd telephoned Mr Turnbull today to talk about his departure. "He called me and wished me well, and that was very kind of him to do so ... it was very gracious of him," Mr Turnbull said.