SYDNEY: Australia’s conservative coalition secured an outright parliamentary majority on Monday following a shock election victory, allowing Prime Minister Scott Morrison to progress his legislative agenda without the support of independents, reports Reuters.
Morrison’s coalition defied forecasts to be re-elected on Saturday in what he called a political miracle.The Australian Electoral Commission (AEC) on Monday said Morrison’s coalition has won 76 seats in Australia’s parliament, which is comprised of 151 elected lawmakers.
The AEC said the coalition is ahead in one of the three seats that have not been declared.
Respected Australian Broadcasting Corporation election analyst Antony Green said the Morrison’s coalition will retain its lead in at least one more seat, allowing it to select a parliamentary speaker and still retain a majority.
The result sent Australian banking, property and health-related stocks to an 11-year high on Monday as investors cheered.
After a long and bitter election campaign, Morrison said Australians have had enough of politics.