It is a sign of the times that the suggestion knighthoods be returned no longer earns the media's automatic ridicule.
Writing in the Murdoch online application, The Punch, Tory Maquire has even suggested “the time might be ripe for a swing back to the days of Sirs and Dames.” In ”Arise Sir John? Who dares bring back the knighthood” she explains the reason could be be John Howard’s induction into the Order of Merit. Alternatively it could be the fact that The Queen finished 2011 “with a grin as wide as the Empire of old.” 
She recalls that the New South Wales Parliament has reinstated the oath of allegiance , and the current opinion polling suggests that some time in the next two years there is a strong possibility that a “ former head of Australians for Constitutional Monarchy” – Tony Abbott – will become the Prime Minister.
She recalls that the New Zealand Prime Minister, John Key not only restored titles but “even allowed the existing Principal Companions and Distinguished Companions to convert their honours into a Knighthood or Damehood – and sure enough 72 of the 85 people eligible took him up on it. Well, you would, wouldn’t you.”
“Bob Hawke was the one who froze Australian Knighthoods. Reinstating them would be a bit complicated, but Chief Monarchist David Flint says legally it could be done – just that it would probably be a good idea to run it past the Palace.”
…the states too….
I pointed out that legislation was not needed. The states could also establish their own, or return to traditional titles, as several independent countries do. The system was brought to an end by politicians who had decided that becoming a republic increasing their role was assured – in other words assuming the electorate was putty in the hands of the elites.
The people have clearly said No to a republic. Premature decisions based on that should be reversed.