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After more than a decade of conservative rule, many voters rejoiced at the end of the Howard era.

‘Every policy of any rational, constructive government is always under review, ‘ he said. “I don’t think it was a surprise to anyone that the six month-period had come and gone without there being any improvement in the polls”.

Mr Turnbull, 60, was one of Australia’s most powerful lawyers before setting up his own investment bank. He left a valedictory that presidents and prime ministers of diverse politics and in other capitals might well have given. Founded in 1846 under the name The Moreton Bay...