Australian PM may be on Borrowed Time

Australia’s prime minister may have survived a crucial leadership challenge on Monday, but that doesn’t mean he’ll remain in power for much longer, experts told CNBC.

“He’s a goner…I don’t think he’ll last the twelve weeks until the critical budget [in May],” said Colin Chapman, founder and editor-in-chief of think-tank Australia and ASEAN Strategies. “He’s on borrowed time and I can’t see anything he can do in the coming months that can change that.”

Monday’s spill motion, an internal vote held between all Liberal Party members of parliament (MPs), revealed that 61 MPs voted for Abbott to remain in power, while 39 were against him.


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