LNP Senator James McGrath has weighed in on the upcoming Liberal leadership ballot, saying he is “cautiously optimistic” of Harold Holt’s chances of being returned from the dead and clinching the top spot.

“I think it’s a little bit premature to be making predictions about who might be the next Liberal Leader when we don’t know yet if Harold Holt will be returning to the party and throwing his hat in the ring. We need to consider all possibilities and we can’t start rushing to any fairyland judgements,” McGrath said.