Shows of magnanimity are a de rigueur for those assuming high public office, and Andrew Barr's speech to the Legislative Assembly on Thursday after his formal elevation as chief minister was full of noble-minded sentiment. There was boilerplate aplenty, too – on jobs ("The government I lead will take every necessary decision to maintain economic activity, to encourage investment, and above all to grow jobs"); education ("critical to the future of investment and jobs in our city"); and health ("care should never rely on how much is in people's wallets when they get hurt"). Tellingly, Mr Barr also restated Labor's commitment to the Civic-Gungahlin light rail proposal in tones that were surprisingly credible.

It was the acceptance speech of a modern social democrat, albeit one imbued with a large streak of pragmatism. Having begun the process of implementing  far-reaching taxation reform in 2012, Mr Barr is well versed in the practicalities of budget management in a city/state where fiscal free kicks are few and far between. Indeed, the Territory's already struggling finances are about to be shirt-fronted by the need to borrow $1 billion from the Commonwealth to demolish scores of asbestos-riddled houses. Mr Barr's grounding in fiscal management should ease the difficult task of dealing with the Mr Fluffy crisis while maintaining economic activity. However, the degree of difficulty cannot be overstated.

Some of the more obvious of these problems stem from the pool of available ministerial talent within the Labor caucus, which is relatively shallow. Mr Barr has already signalled his desire to keep the treasury portfolio, and it's possible his deputy, Simon Corbell, will remain Capital Metro Minister. But the pressure on both to assume other major portfolios will be considerable. The question of who will assume responsibility for health after the lengthy stewardship of Katy Gallagher remains a contentious one. There has been speculation that Greens MLA Shane Rattenbury may be tapped for the job, thus allowing Messrs Barr and Corbell to keep their eye on the bigger picture. However, caucus may not warm to the idea of a portfolio so closely identified with the Labor party being "surrendered" to a coalition partner, even though health proved to be a handful for Ms Gallagher and her government on occasions.

Mr Barr's own big infrastructure pet projects, which include a new sports stadium, are already sitting on a shelf ("delayed in the short term") as the government grapples with the unfolding asbestos crisis. And perhaps that's best where they stay, given the magnitude of the asbestos remediation project and the on-going requirement for Labor to defend a light rail project that many voters regard  as unwanted and over-priced (and which the ACT Liberals vigorously oppose). Few politicians like to retreat from their grand visions, and Mr Barr may do so under sufferance, and then only as a show of fiscal responsibility to the electorate.  

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That said, Mr Barr's administrative skills and capacity for hard work are not in doubt. And while his feel for what the electorate wants and expects may not be as finely honed as his predecessor's, his willingness to consult widely will stand him in good stead as he seeks to remake the government in his own image.

Establishing a personal narrative is often said to be one of the keys to successful political leadership and to winning elections, and while Mr Barr's committed advocacy for gay marriage is well known, Thursday's acceptance speech was largely  devoid of a wider social reform agenda. Perhaps this will spelt out in greater detail once Mr Barr has demonstrated his commitment to responsible economic management to the electorate's satisfaction.   

In more settled times, Mr Barr's path to popular acceptance as chief minister might have been assured. But the Mr Fluffy crisis, Commonwealth spending cuts, subdued economic activity across the Territory and Labor's unswerving commitment to an issue (light rail) which could prove highly toxic, make this a not particularly propitious time to be assuming the Territory's top political job. While Mr Barr's ability to win over a restless electorate cannot be discounted, the time available to him is pitilessly short.