Turnbull’s Coalition Nudges Ahead as Election Count Continues

“There is no doubt that Labor cynically abused the trust of Australians by lying to them about this and it is something for all of us, politicians and the media, to contemplate”. But that confidence conflicts with early results showing Turnbull’s party losing a swathe of seats in the House of Representatives – which determines who governs the country.

Mr Turnbull says he is “quietly confident” of eventually securing a majority in the House of Representatives based on the the fact that absentee and postal votes historically favour the Coalition.

The incumbent Coalition, led by Prime Minister Malcolm Turnbull, is composed of two major political parties: the Liberals and the Nationals.

We are not likely to know the final counts for a few days, and commentators worry that if the governing coalition can’t reach a majority, there will be an potential for a hung government incapable of pushing through reforms.

Deputy Prime Minister Barnaby Joyce is confident “but not cocky” the coalition will form government in the coming days or weeks.

In sharp contrast to an angry speech in the hours after the vote, he acknowledged there was a swing against his Liberal/National coalition, but said general voter dissatisfaction also played a part.

Political analysts say one reason is Shorten’s transformation into a stronger candidate in an election focused squarely on the economy. Mr Shorten was also trying to woo independent MPs and small…

Labor Leader Bill Shorten’s initial message to a packed room in Melbourne sounded a bit more reserved.

“Looking ahead, trends in Australia’s credit profile will be determined by whether fiscal objectives are effectively implemented, whether external financing conditions remain favourable and how housing market developments affect domestic growth and financial conditions”, Marie Diron, Senior Vice President at Moody’s, said in a statement.

“I think the Senate is going to be part-challenging and I wouldn’t be at all surprised if we’re back at the polls not in three years’ time but well before then”. Yet business leaders have accused the government of dithering on economic reform.

“Neither the Labor Party or the Liberal Party have a God-given right to rule”, Wilkie told ABC radio, adding he was adamant he would “do no deals”.

Mr Albanese is considered Mr Shorten’s main rival, as he contested the last ballot in 2013.

“We will work harder, much harder, to again ensure that Australians understand our very deep commitment to them”, Mr Turnbull said.

Conservative Senator Cory Bernardi has called for a debate about Turnbull’s leaderships as key independents who could hold the balance of power refuse to commit to either the coalition or Labor.

Six seats are yet to be determined, including the Victorian seat of Higgins, where Greens candidate Jason Ball attracted a swing of almost 10% against sitting Liberal member and Small Business Minister, Kelly O’Dwyer.

It’s a predicament of his own making, Mr Shorten said, likening the PM to soon-to-be British former-Prime Minister David Cameron and his Brexit undoing.

AMP chief economist Shane Oliver is anxious Australia will lose its AAA credit rating if Labor forms government.

But in a sign that an eclectic Senate, with an expanded crossbench, will prove unworkable because populist independents will have voters onside to be uncooperative, the same poll found just 29 per cent of voters believe the government’s full $48 billion corporate tax cuts should pass as proposed.