Friday, 27 August 2010

The market favours the Coalition

Well I think we have reached the point where we now know who won what last Saturday. Not that we are any the wiser about who will become Prime Minister.
The figures tonight from the Australian Electoral Commission can be summarised thus:
In terms of seats won it is 72 all with the Coalition having the National Party member from Western Australia saying he will not support a Labor Government while refusing to join the Coalition and a Green saying he would support a "progressive" Labor Government. I guess we can call that 73 all.
That leaves the victor to be chosen by four independents - three of them former National Party members and a fourth who became an independent via membership of the Greens after a stint as a Liberal Party man.
In terms of votes, not that it is really all that relevant, the figures from the AEC on the two party preferred vote are as follows:
How will it all pan out in the end? The best I can do is report that the market favours the Coalition.
The decision by Tony Abbott to abandon his stupid claim that the officials of the Treasury could not be trusted enough to fairly cost his election promises has swung the markets in his favour.
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