Turnbull Wins Party Ballot to Become Australian Prime Minister

Bloomberg, By Jason Scott, September 14

Former Cabinet Minister Malcolm Turnbull will become Australia’s sixth prime minister in eight years after defeating Tony Abbott in a ballot of Liberal Party lawmakers on Monday.

Turnbull won by 54 votes to 44, hours after condemning Abbott’s economic management and challenging him for the leadership of the governing party.

The 60-year-old former investment banker has a window to halt a slide in the government’s popularity caused by political missteps and Abbott’s combative leadership style. Faced with the likely departure of senior ministers loyal to Abbott, Turnbull needs to move quickly to restore unity if he’s to turn around the party’s fortunes ahead of an election due next year.

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