Abbott unlikely to move no-confidence motion, 457 visa bill to be “resolved” today, chaos in Canberra doesn’t dampen shares: Midday roundup

Opposition Leader Tony Abbott said he’s unlikely to move a motion of no confidence, saying the Australian people should choose their prime minister and their government.

Abbott told the Nine Network this morning he’s not into parliamentary games.

“All we’ve had for the last three years are back room deals and back stabbing orchestrated by the faceless men who are not interested in the welfare of the Australian people,” he said.

457 visa bill to be “resolved” today

Although it was reported that the Labour Party’s 457 visa bill had been shelved, it appears to be back on today’s agenda.

According to The Australian, a spokesman for the new Deputy Prime Minister and Leader of the House, Anthony Albanese, said: “The plan is to now resolve that piece of legislation today.”

The Labour Party’s proposed changes to the 457 visa bill are not popular with the business community.

Australian Industry Group chief executive Innes Willox said in a statement reports the 457 visa bill is in doubt were “unambiguously welcome”.

“This investment-destroying and union-inspired proposal was an ill-considered measure unsupported by any proper evidence. We would welcome further consultation on any reasonable proposals to ensure the scheme works efficiently and appropriately,” Willox said.

Chaos in Canberra doesn’t dampen shares

The Australian market has opened higher, following a surge on Wall Street and a Labor leadership change last night.

The S&P/ASX200 is up 63.1 points to 4794.8 just after midday and all major sectors were performing well.

The Aussie dollar is trading at US92.8 cents.

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