The papers are abuzz with speculation about an early election. This is one of the favorite games of the political punditariat, and it usually comes to nothing, but the story this time seems to make even less sense than usual. Part of the problem is that there are three different ways an early election could be held, and the proponents seem to be assuming a “unicorn” or “Pixie horse” (to use Scott Morrison’s evocative terminology) that combines the best of all three from the government’s position.

First, we could have an immediate dissolution of the House of Representatives. This would have a chance of achieving the biggest selling point of the early election idea, cashing in on Malcolm Turnbull’s popularity while it lasts. But such obviously cynical moves have failed in the past, as Campbell Newman could tell you. Also, it would (as I understand it) necessitate a separate half-Senate election in the second half of the year. The political class, with the exception of minority and micro-parties, really hates this idea.

Second, we could have a double dissolution, based on the Senate’s failure to pass anti-union laws, and held under the existing rules. Apparently, the election would have to be called the day after Budget Day (11 May), and couldn’t be held until July. So, it would only be a few months early, invalidating the whole idea. And, of course, it would guarantee a Senate with lots of micro and minor party members.

The third idea, is the second, plus a deal with the Greens to reform the Senate voting rules to allow preferential above the line voting. This would kill off the “preference whisperer” deals that have allowed the election of candidates with almost no votes. The reform makes sense, but why on earth would the Greens rush it through to make life easy for the government? All they have to do is hold off until the Budget session and they can get the reform with no possibility of a double dissolution.

Also, the idea that the reform will kill micro parties seems to be oversold. Automatic preference exchange might be gone, but there will still be “how to vote” cards. With a DD quota of about 7.5 per cent, a candidate with a 4 per cent primary vote, or even less, could easily get in on preferences.

However, no one seems to be making any of these points. Have I misunderstood the arcana of our system, or just got the strategy wrong? Over to you.

Update In comments, Lt Fred makes a convincing case that the Greens want and would benefit from a Double Dissolution. They did much better in 2010 than in 2013, so a DD would be good for them.

Bill Shorten doesn’t have a lot of public support, a fact that reflects his background as a machine politician with a penchant for self-promotion. For a long time he has been accused of pursuing a “small target strategy”, hoping to win by default against Tony Abbott.

The latest developments in tax policy ought to prompt ] a reassessment. The nature of policy debates like this is that the government holds all the cards: control of the political agenda, expert Treasury advice, and the capacity to manage the media with judicious leaks.

Despite all of this, Shorten has left Malcolm Turnbull and Scott Morrison looking flat-footed. Their preferred option of raising the GST rate and expanding its base is dead in the water, but not yet formally disavowed. Opposing it was an easy choice for Shorten, but still one that required him to override some supporters within the ALP.

The general assumption was that the government would soon announce Plan B. But Shorten has now beaten them to the punch. His proposals to limit negative gearing and scale back the concessional treatment of capital gains are more substantial than anything they are likely to contemplate in relation to property taxation. And Labor has already signalled willingness to limit tax concessions for superannuation.

So, unless the government is willing to do something really radical, involving an explicit break with the Abbott era, anything announced in the Budget will look like “me too”.

Update Immediately after posting this, I found this piece by Laurie Oakes, arbiter of the Australian political zeitgeist, making an almost identical argument.

Nearly five months after Malcolm Turnbull became PM, it’s finally possible to get a clear view on the big question of what the change means. Has the shift from Tony Abbott has led to a real change in policy approach, centred on growth and innovation? Or is it merely cosmetic, amounting to the end of the tribalist rhetoric and gesture politics that eventually cost Abbott his job.

Based on recent developments, the case for “merely cosmetic” seems overwhelming. Turnbull’s rhetoric about innovation is starkly at odds with the reality of:

* massive job cuts in CSIRO, focused on climate change. The fact that the new entrepreneurial CEO is flogging the dead horse of coal to diesel adds insult to injury; and

* the $5 billion Northern Australia infrastructure fund, a boondoggle based on mid-20th century rhetoric about “unlocking the North”. It was pushed by Abbott as a sop to the Institute of Public Affairs, who underwent a sudden conversion to the cause of publicly subsidised dam projects a little while ago. The political imperative has gone but the money still flows, it seems.

The picture is just as bad on other issues. Turnbull is going ahead with the $160 millikon plebiscite on equal marriage, even though its leading backers, who only pushed it as a delaying tactic, have announced they won’t be bound by the result. Turnbull should have taken these statements as releasing him from any commitments to the anti-equality right, and allowed a free (in both senses of the word) vote in Parliament instead.

On climate change, the rhetoric in Paris sounded OK, but there has been no action to speak of. Turnbull hasn’t even committed to maintaining the Renewable Energy Target, let alone increasing it as he will need to do in the absence of an effective carbon price.

I imagine the appearance of improvement will last long enough to secure an election win for Turnbull. But, unless he starts delivering some change, the reality will become evident before long.