While Asher did enter the Legislative Assembly as the member for Brighton at the 1999 election the Liberal Party unexpectedly lost government. However Asher successfully contested the deputy leadership and also served as Shadow Treasurer. However, with the Liberals trailing badly in the polls in 2002 she and party leader Dennis Napthine, who was also allied to Jeff Kennett, were replaced by Robert Doyle and Phil Honeywood as leader and deputy leader respectively. After the Liberals devastating defeat at the 2002 election continued to serve on the opposition frontbench, serving as Shadow minister for Manufacturing and Exports and later as Shadow Minister for Industry and Employment and Shadow Minister for Major Projects.