Turnbull in range of hollow Australian election victory

Australians could wait until next week for election result

Prime Minister Malcolm Turnbull hopes to know this week whether his Liberal Party-led coalition will achieve a 76-seat majority in the House of Representatives where it had controlled 90 seats.

As well as pointing to the new composition of the Senate, likely to be more hard to navigate than the last for an incoming government, the Opposition Leader compared the Prime Minister’s actions to what has unfolded in Britain following the decision to leave the European Union.

Turnbull’s acknowledgement was a far cry from John Howard’s 2006 election campaign based around the mantra “Who do you trust.?”, and implies that Tony Abbott’s broken election eve promise in 2013 of “no cuts to education, no cuts to health, no change to pensions, no change to the GST and no cuts to the ABC or SBS” was still fresh in the minds of voters.

Switching her focus in recent years from attacking Asian migrants to condemning Muslims, she campaigned on plans to limit halal certification, restrict overall immigration and hold a “royal commission into Islam”.

Before Saturday’s election results were finalized, Moody’s Investors Service said there were limited implications for Australia’s Aaa grade, while Fitch Ratings said a wider deficit could put downward pressure on the score.

Many analysts predict that Mr Turnbull’s coalition will form an administration working closely with crossbenchers to pass legislation.

Shares in banks fell as investors reacted to the election uncertainty.

Attorney-general George Brandis warned against infighting or public criticism, saying this would be unhelpful if Mr Turnbull ended up forming a minority government with the support of independents.

Turnbull’s coalition could indeed still win by a slim margin, though with a reduced majority. The major parties need 76 seats to form a majority government.

“There is a very real chance that Malcolm Turnbull is considering calling a snap election in the mistaken belief that this will sort out his own problems”.

“There’s no-one better in a small room than Bill Shorten”, Mr Albanese said.

“They you a saw a way they could control the Senate, either of those two parties, then Malcolm has called a double dissolution and he has given us a system which a lot of people struggled with on the ballot paper and what we’ve seen now is the emergence of parties who I think are challenging in terms of the fabric of unity in this country”. “He has taken this nation to an election on the basis of stability”. He has delivered instability … “The bloke is not up to the job”.

Turnbull’s conservative coalition has secured 68 seats, opposition Labor 67, with 10 seats in doubt, according to projections by the Australian Broadcasting Corporation. Three of the eight seats in doubt are in the Sunshine State, all previously Coalition territory.

The makeup of the Senate will likely take a month to calculate, the agency said.

‘In the past, I could run around and kiss babies and mouth party platitudes and expect to get re-elected, ‘ Mr. Katter said in a telephone interview on Monday.

If it’s unclear which side has the support of the majority of the House of Representatives, the governor-general would in all likelihood allow the incumbent prime minister – in this case Turnbull – to remain in the position and to test whether he has the confidence of the house, on the floor of the parliament.

Shorten declined to elaborate on what any Labor deals with the independents might involve, but vowed to work with all lawmakers in a bid to restore order to the fractured parliament. “But we won’t compromise our principles”.

The elections, which pit the conservative coalition government against the center-left Labor Party, cap an extraordinarily volatile period in the nation’s politics.

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