Turnbull has used his final ace. If his stance on the economy backfires (and it will, amongst Labor's traditional, seemingly growing bogan territory), then he has nowhere left to turn.
Conversely, the intellectuals (always Lib ground) and the middle-class (those that may have turned against perceived ambivalence from Howard) have realised they don't need the cash, although they wouldn't turn it down, and will either save or donate it to the bushfires.
If not, Costello is waiting in the wings as the party's saviour. It's really a case of when Turnbull makes a mistake and he pounces. He has always been astute enough to understand the political game.
You make it sound like economic, foreign and social policy are what decides elections. Silly billy.
The political world according to Lentern:
The two fundamental concepts are:
-Absence of negatives trumps presence of positives, obviously both is preferable but just about unheard of.
-Timing is more powerful than policy.
For a governments first three-five years a sound government should be able to secure government quite easilly. After five years however if the Leader of the Oppposition,(not to be mistaken for the whole opposition frontbench) appears safe, reliable, placating and he is able to convince people he is somewhat secure in his place as the leader of his party, there will be a change of government. Once every thirty years or so you have an event like 9/11 or the dismissal and it's difficult to plot how major events like that will swing the electorate, but I tend to think they favour the government.
Examples of suitable opposition leaders:
Kim Beazley
John Howard
Andrew Peacock
Kevin Rudd
Malcolm Turnbull
Bob Carr
Peter Beattie
Examples of unsuitable opposition leaders:
Mark Latham
Alexander Downer
John Hewson
Julia Gillard
Peter Debnam
Frank Sartor
Paul Keating*
*I strongly believe in my heart of hearts Paul Keating could never have won an election from opposition. You can be abit more rowdy once in government because there is no "better the devil you know" concept in place.
To put it another way, new governments don't get voted out and only boring old farts who are all things to all people win from opposition.