Australia: Abbott's Liberal-National coalition wins election

Tony Abbott's Liberal-National coalition has swept to power in Australia, defeating Prime Minister Kevin Rudd’s Labour Party in national elections today.



With about two-thirds of the votes counted, the opposition coalition has already secured a parliamentary majority and Rudd has conceded defeat.



Abbot says he looks forward to forming a competent and trustworthy government.



He told cheering supporters during a victory speech that Australia is under new management and is now open for business.



In an election that focussed on the economy, asylum and the carbon tax, the outgoing Prime Minister told his supporters he gave his best, but admits that was not enough.



Rudd telephoned Abbott and wished him well and says he is pleased that the Labour Party was preserved as what he calls a viable fighting force for the future.



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