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Australian Election: Labor Wins, Focus Shifts To Policy Agenda

AUSTRALIA

Counting is still continuing after Saturday's Australian Federal election, although Labor Leader Anthony Albanese has been sworn in as the new Prime Minister today, along with key ministers.

  • The main question that remains from the election result is whether Labor will form an outright majority. A number of newswires are stating Labor should win 76 seats, which would give it the smallest of majorities.
  • If final counting shows the Labor party falling short of this level it will require support from the Greens and a number of independents to pass legislation.
  • In any event, climate change/action is likely to be a key focus of the Labor government, as the Greens polled strongly at the election and a number of independents won seats with a strong climate change agenda.
  • The other focus point will cost of living pressures and potential wage rises to help offset such pressures.
  • Note the new Australian Prime Minister will travel to Japan later today for the Quad leaders' summit. He will meet with the US President and Indian and Japan leaders.
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