There is nothing like an open-ended constitution change that brings out all the rent seekers.

This is political gamesmanship no more. The proposed changes need to be part of the question.

Nations with monarchies are generally listed as the most equal and pleasant to live, such as Denmark, Norway, Holland. Whereas republics/ statist countries seem chaotic.
Its actually quite weird that Russia hasn't brought back the Romanovs and the French haven't got the Bourbans considering how many great things they built.

There is no sensible reason for a republic. I imagine any vote now would be much the same as the last one. Constant nagging is no reason to change our minds.

Shadow,
I agree the proposed changes need to be part of the question. But who are these rent seekers you refer to? I can't think of any issue with less opportunity for profit.

Aidan,

A modification to the Constitution of this magnitude would provide all sorts of interest groups an opportunity to permanently guarantee themselves a say in the future Aus. A prime example is the referendum to recognize aboriginals as the first people that has been derailed by interest groups trying to gain special representation and lots more.

Changing to a republic would entail enormous costs, and there would hordes of people wanting to get their snouts in the trough - rent seekers as AC rightly describes them.