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Australian PM Turnbull’s Coalition Set to Win Federal Election

Turnbull said there would be some changes to the ministry, because some ministers had lost their seats, but said they would not be on a “large scale”, which means a return to the front bench for the former prime minister Tony Abbott is unlikely.

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‘Rating agencies and organisations like the International Monetary Fund are watching our economy closely, particularly housing, and are clearly looking for economic focus, leadership and policy reform, ‘ Mr Dale said in statement.

“This is a great day today (Sunday)”, ABC quoted Turnbull as saying here, after Labour party leader Bill Shorten admitted defeat.

“I want again to thank the tens of thousands of volunteers who have worked so hard on the Labor campaign”.

Though the question of who won the July 2 election was answered, the question of exactly how the conservatives will rule the fractured Parliament was not.

Despite the uncertainty ahead, some members of the government have been positively buoyant about the election result for days.

Independent MP Andrew Wilkie said on Saturday he would not do any deals with the major parties after Queensland independent Bob Katter and Victorian independent Cathy McGowan pledged to give supply and confidence to the coalition earlier this week.

But the Coalition now has a narrow lead in two of those doubtful seats and looks increasingly likely win at least 76 seats giving the Turnbull Government an outright majority in the House of Representatives.

Both Mr Turnbull and Mr Shorten said they supported an inquiry into electronic voting, amid the protracted counting process.

“It is vital that this parliament works”, he said.

The opposition Australian Labor Party won 69 seats, and the remaining five went to smaller parties or independent candidates.

Katter compared the situation to 2010’s hung parliament situation, out of which Labor’s Julia Gillard formed a minority government with support from independents. Well it always takes this long, but we don’t notice because it usually becomes obvious on election night when around 70 per cent of the votes have been counted that one side or the other has won enough seats.

“It’s vital that this parliament works, it is vital that we work together and as far as we can try to find ways upon which we can all agree…”

Despite now conceding, Shorten said Labor also had its own mandate from voters to defend its values.

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He also said it was time Australia considered ditching its pencil-and-paper ballots for a speedier electronic system.

Australian PM declares narrow election victory