By resigning gracefully. If I were advising Gillard on how best to secure her place in history, I’d suggest waiting until the 1st of July and then making a speech along the following lines
The carbon price, legislated by my government is now in place. It will soon become obvious that the scare campaign run by Mr Abbott and the Opposition has no basis in reality and that our plan will achieve cost-effective reductions in carbon emissions, while making most Australian households better off. I am proud of my government’s achievements in this and other areas. Nevertheless, I recognise with sadness that I am not the best person to take this message to the Australian public. I have therefore decided to resign the office of Prime Minister and advise my Labor colleagues to support the return of Mr Kevin Rudd to this position. Mr Rudd and I have had substantial disagreements over matters of managerial style, but we are agreed on the need for a Labor government with Labor values, and on the need for action in key areas including the carbon price, the mineral resource rent tax and the successful management of the Australian economy. I will give the new PM my enthusiastic support, and work for the re-election of a Labor government.
Would this work? I’m not really sure. But given Abbott’s failure to achieve any popular support at a time when Labor has plumbed unheard of depths of popular support, it would have to be worth a shot. At a minimum, it would help avoid the Queensland-style wipeout that is currently on the cards. And if it worked, history would certainly look kindly upon a PM willing to give up the job for the sake of her party and, more importantly, in the best interests of the country.