Nice try, but no cigar!  One need look no farther than to our 'friends' to the south, or to our own Senate, to see how ineffectual politicians can be in living up to any acceptable standard in the absence of a third party.  If the office requires improvement, then, by all means, improve it, but don't try to remove it in the mistaken belief that politicians are better left to their own devices in such matters.  History is not, nor will it ever be, on the side you advocate, nor should the former Prime Minister be cited for model behaviour.