The decision by Queensland coal companies to drop their bid for the track assets of Queensland Rail hands the state’s Labor party one last chance to hang on to office. There is still time to dump the economically silly and politically suicidal idea of a public float for QR, either because the Premier and Treasurer suddenly announce that circumstances have changed (as they did, going the other way, immediately after the last election) or because the Caucus decides that taking a chance on a new leadership team is preferable to the certain oblivion to which Bligh and Fraser are leading them.
According to this poll report, Labor’s primary vote has fallen to a horrendous 29 per cent. Looking at the dismal performance of Federal Labor in Queensland at the recent election, in which the LNP campaigned against Bligh rather than Gillard, there’s no reason to doubt that this would be translated into reality unless something changes. Certainly, on current policies, I’ll be preferencing the LNP ahead of Labor.