Great expectations for Turnbull: Palmer

Clive Palmer says Prime Minister Malcolm Turnbull has the confidence of the Australian people and unique opportunity to out the economy back on track.

Federal MP Clive Palmer hopes new Prime Minister Malcolm Turnbull can put in place the right policies to boost growth.

The famous political enemy of former prime minister Tony Abbott says the new PM has the people's confidence and a great opportunity to set the country in a new policy direction.

"If you look at the polls, although I don't regard the polls as being very relevant, if you look at them though it shows that people have got a great expectation. Let's hope he can do it," Mr Palmer said outside the Queensland government's executive building.