New Opposition Leader Tony Abbott says the Government's election mandate to act on climate change has run out.

The Government's emissions trading scheme is set to be defeated in the Senate this morning after Mr Abbott reversed the Coalition's support for it as soon as he took over the leadership from Malcolm Turnbull yesterday.

Its defeat will hand the Government a double-dissolution trigger but Mr Abbott says he is prepared to fight an election on the issue.

In July Mr Abbott told the Coalition to pass the laws, saying that the Rudd Government had a mandate to act on climate change.

But he now says that is not the case.

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Two-timing petulant love child...

Opposition and crossbench senators have handed the Government a trigger for an early election on climate change by voting down its emissions trading scheme for the second time.

Liberal Senators Sue Boyce and Judith Troeth defied new Liberal leader Tony Abbott and crossed the floor to vote with the Government this morning.

But it was not enough to push the scheme through, with the Greens, Independent Senator Nick Xenophon, and Family First Senator Steve Fielding joining the Opposition in voting down the scheme.

Hopes of getting the legislation through were dashed yesterday when Mr Abbott reversed the Coalition's position as his first act after ousting Malcolm Turnbull.

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Good on the women... The others, the male Liberal senators who said they would vote FOR the ETS, have no cojones... The Greens and the independents are idiots — and Tony is a two-timing petulant love brat...

Ousted Liberal leadership challenger Joe Hockey has accepted new leader Tony Abbott's offer for him to stay on the Opposition frontbench in the Treasury portfolio.

The ABC understands that Mr Hockey has called Mr Abbott and informed him of his decision.

Mr Abbott made the offer yesterday after winning the Liberal leadership by just one vote from Malcolm Turnbull.

Mr Hockey also stood for leader but was knocked out in the first round of voting.

After the leadership ballot Mr Hockey said he would have to hold more discussions with Mr Abbott before accepting his offer.

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I am not a politician and I know why... I am too idiotic and not inclined to give enough to the community... in the most ruthless manner there is... Enemas... Back room deals, broken commitments, deliberate misunderstanding of issues for political gain, bullying, shifty attitude, core and non-core values, spruiking one thing, doing another, accept the leader rules and let the majority decides on my behalf...?... Boy I thought being a lonely cartoonist was a tough act...

Opposition Leader Tony Abbott says an emissions trading scheme will not be part of Coalition policy at the next election and has moved to reopen the debate on nuclear power.

The Opposition voted down the Government's emissions trading scheme in the Senate today after Mr Abbott reversed the policy stance of former leader Malcolm Turnbull.

Former Liberal prime minister John Howard took an emissions trading scheme to the 2007 election but Mr Abbott says it will no longer be part of Liberal policy.

"We won't have an ETS as part of our policy going to the next election," he said.

"And we won't be having a tax as part of our policy going to the next election.

Ah, the magic word... TAX... used with great greasy effect in the mouth of the love child... Yes. People dream of not paying taxes... Thus carry on... play the taxtune like the piper who takes the children away to be drowned, dear Tony, like a Mafioso in search of way to make sure people pay their kickbacks to you and no-one else... see toon at top...

According to people present during the spirited debate, Mr Hockey spoke strongly in favour of the Liberal policy at that time - pushed by the then leader, Malcolm Turnbull - to support the Government's amended emissions trading scheme.

Mr Abbott was one of six in the 20-member shadow cabinet who spoke out against the policy.

Mr Hockey challenged him by asking: "What's the alternative?"

Mr Abbott cited a list of carbon abatement measures - other than an emissions trading scheme or a carbon tax - that Mr Turnbull had mentioned in a speech on January 24.

Mr Hockey, exasperated, shot back: "That's $50 billion plus!"

This figure apparently is based on his own estimate of the cost of the measures, which are now at the core of Liberal policy since Mr Abbott took the leadership last week and dumped support for the ETS or a carbon tax.

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The Abbott-global-warming-is-crap plan is idiotic. Imagine: polluters buy the right to pollute as they wish. The cost of supply goes up for the consumers. The government collects the moneys and then reimburse the consumers for the cost of the hike. Net result for emission reduction: NIL. Net result for interest rates going up: heaps. More twisted than a cheese stick.

And doesn't this scheme smell of ETS sulphur?

The difference with the not-so-great Labor ETS is that with the Labor scheme there is a chance of at least a 5 per cent emission reduction and an incentive to consume less. Consuming less, the interest rates would stay in check despite prices going up...

The point is that we have to reduce our emissions of CO2 by 100 per cent by tomorrow. But first we have to accept there is a problem with global warming. But with the Liberals at the slash'n'burn farm, the idots-climate-change-is-crap might win the day...

see the toon at top.