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THE AUSTRALIAN THURSDAY, MAY 23, 2019 ELECTION 19 • MIRACLE VICTORY ELECTION 19 • MIRACLE VICTORY theaustralian.com.au 5

Backers ‘It’s time to fuel our engines of growth’ of coal in ECONOMY economist Andrew Hanlan said. “This follows a strong and ex- call for tended upswing over recent years MICHAEL RODDAN which saw supply largely catch up JOYCE MOULLAKIS with demand.” action Westpac’s leading index, which has declared the indicates the likely pace of econ- NATIONALS economy needs a “pro-growth omic growth into the near term, strategy” as construction work and also fell further over the past home building continue to fall month, driven by further declines JOE KELLY across the country and leading in approvals for dwelling construc- indicators of employment growth tion. The result was “a clear signal Nationals MPs will thrash-out hit record lows. that economic growth through the their demands for a new The Treasurer, who yesterday three quarters of 2019 is likely to be agreement at a partyroom meet- met the nation’s top financial reg- below trend”, Westpac chief econ- ing in Canberra today, with some ulators in Sydney, said the econ- omist Bill Evans said. urging the government to omy still faced headwinds, Meanwhile, official data re- strengthen its efforts to under- international trade tensions be- vealed the weakest rate of growth write a new coal-fired power plant tween the US and China were in skilled jobs vacancies in five in . weighing on growth and drought years as the Department of Jobs There will be no push to throw and floods in recent months had and Small Business figures fell to open the leadership, with Michael had a “significant impact” on their lowest point in two years. McCormack set to remain as economic activity. Mr Frydenberg said the “im- Nationals leader after the party Mr Frydenberg met Reserve pact of a slowdown in the housing performed strongly at the election Bank governor Philip Lowe and market is also being felt, so it’s not and received large swings in the deputy chairs of the banking the time for higher taxes; it’s the Queensland marginals. time for a pro-growth strategy”. The surprise victory for the Dr Lowe this week urged Coalition, which was on track last ‘It’s not the time Canberra to drive reforms to tax night to win up to 78 seats, has de- for higher taxes; policy, infrastructure spending fused any early push by Barnaby and the education sectors to help Joyce to regain the leadership. it’s the time for a support longer term economic The former leader will not pro-growth strategy growth. attend today’s meeting. Mr Frydenberg cited his plan- Some Nationals MPs privately JOSH FRYDENBERG ned tax cuts for lower and middle argue that Mr McCormack will TREASURER income earners, which is due to need to show he can muscle-up to provide relief for households over the Liberal Party, with Saturday’s coming months, the Coalition’s victory seen as a major endorse- regulator after the central bank $100 billion infrastructure spend- ment of and his this week signalled two imminent ing plans and its support for presidential-style campaign. cuts to official interest rates that apprenticeships as key reforms to Victorian Nationals senator would put the cash rate at a new be launched by the government. Bridget McKenzie is also expected low and after Pru- “Tax is really important, so we to stay on as deputy, despite con- dential Regulation Authority have not just immediate relief but cerns about her engagement with launched a shake-up of rules that we also have a long-term struc- JOHN FEDER the backbench. had kept lower-income borrowers tural change,” he said. OH Property Group principal buyers agent Henny Stier, at a house she sold in Sydney’s Roseville, is confident of a housing market resurgence An early test for Mr McCor- out of the housing market. He noted the Coalition govern- mack will be whether the Nation- “The Australian economy faces ment’s plan to remove some in- als negotiate five or four seats at headwinds both internationally come tax brackets and address the cabinet table and if the minor and domestically,” Mr Frydenberg bracket creep. Agents’ phones now ‘ringing like crazy’ Coalition partner can secure other told a conference in Sydney. Citi economist Josh Williams senior portfolios amid speculation “The housing market has said the disappointing construc- MPs will push to regain the trade slowed. We’ve seen the budget tion figures meant annual GDP PROPERTY are saying their phones have been rate would be dropped to a new Prudential Regulation Authority’s prudential lending rules. The ministry from the Liberals. forecast for dwelling investment, growth would likely slow even fur- ringing like crazy since Monday,” record low on June 4. move would “help support credit group’s stock price has jumped in On current figures, there will be which had been growing at about ther to 1.7 per cent, down from an Ms Stier said. Property enthusiasts are also growth and could stem falling the last two trading days. 21 Nationals in the new parlia- 5.5 per cent per annum on average already sub-par 2.3 per cent. MICHAEL RODDAN “Most inner-city housing mar- buoyed after the unexpected house prices”. Ms Stier said the property ment. This means the Nationals over the last five years, forecast to “The leading indicators of em- kets seem to be holding up. We’re Coalition re-election, which ended “Improving access to credit will market had been hit by a slow- will comprise about 19 per cent of be down 7 per cent in 2019-20, then ployment growth such as job ad- Home buyers and sellers are hearing people saying: ‘Now we’re the threat of Labor’s negative support credit growth for the down in listings because sellers the joint partyroom if 35 Coalition another 4 per cent the year after.” vertisements and vacancies are coming “out of the woodwork” going to start to list our properties.’ gearing and capital gains tax banks, which has declined signifi- were wary of dumping their house senators are elected and the gov- His comments came as the weakening,” CommSec chief after Scott Morrison’s election We can start to see the level of reforms, and after the banking cantly from its peak in 2014, and in into a soft property market. ernment wins a majority of 78 in Australian Bureau of Statistics economist Craig James said. victory, which is tipped to spark a supply increase again. That brings regulator eased onerous restric- turn stem the fall in house prices. “Some markets have held the House of Representatives. said construction work done over “With … unemployment rates dramatic rise in auction listings the buyers out of the woodwork.” tions on borrowers securing loans Falling house prices are dampen- better than others, such as suburbs Nationals strategists suggested the March quarter fell 1.9 per cent ‘stuck’ at around 6 per cent in Tas- and arrest the slide in house prices. Analysts are expecting the in a bid to reduce the squeeze on ing household consumption and close to the city or within 20km of this would see the party holding — a slide that was led by falling mania, Queensland, Western Principal buyers agent at OH nation’s housing markets to be home buyers. This will allow contributing to a weaker growth the CBD. Prices there have held up only four seats in cabinet, arguing rates of home building and engin- and South Australia, the Property Group in Sydney Henny reignited after Reserve Bank borrowers to add about $60,000 outlook for Australia,” Mr Yu said. fairly well,” Ms Stier said. there was no reason for the Prime eering work. Reserve Bank appears likely to Stier said the market had been governor Philip Lowe indicated more to a home loan of $1 million Listed residential developer “The problem has been a lack of Minister to agree to a fifth. “There was confirmation that pull the interest rate lever at its reinvigorated by the Coalition’s this week that two rate cuts would without any change in income. Stockland emerged yesterday as supply. Since Easter I’ve noticed a Mr Morrison has not run as a the home building sector is in a June 4 meeting,” Mr James said. election win. be needed to stop unemployment Daniel Yu, a senior analyst at one of the biggest winners from huge surge in inspection numbers conservative on energy policy, re- sharp downturn, after work “What is interesting is that I rising and get inflation back up to global ratings agency Moody’s, the re-election of the Morrison at what we call the entry price jecting arguments to pull Australia peaked in mid-2018,” Westpac BUSINESS P17 was speaking to some agents who its target band, hinting the cash said yesterday the Australian government and a relaxation of point of about $1m.” out of the Paris climate accord. He also unveiled a shortlist of a dozen energy projects that the govern- Defeated One Senate seat marks gloomy Labor outlook in battleground state ment would consider underwrit- ing. These were focused on gas and hydro projects in , NSW Banks fires UPPER HOUSE Coalition on HOUSE OF REPS Templeman to keep the seat. As counting continued THE SENATE and South Australia, and only one Likely outcome The Liberal Party led the seat yesterday in other seats in doubt, Likely outcome “very small” coal upgrade in NSW. last angry course to buffer its last night with 50.11 per cent of it appeared that Labor’s Anika But some Nationals MPs told ROSIE LEWIS electoral clout Coalition 78 the vote to 49.89 and a recount Wells had won Wayne Swan’s Coalition 35 The Australian the large swings Labor 67 appeared certain. former seat of Lilley, leading by Labor 26 against Labor in central Queens- shot at Libs Labor is on track to secure a sole LOWER HOUSE Since neighbouring Lindsay 0.6 per cent or 1002 votes. land represented an endorsement Senate seat in Queensland, deliv- Greens 1 was created in 1984, Labor has The Liberals looked likely to Greens 9 of the Coalition’s commitment to a DEFECTOR ering a major blow to the party and KAP 1 held Macquarie only when it narrowly win Bass in northern 2 feasibility study into a new high- its worst upper-house result in the The Liberal Party has high also held Lindsay, which it lost Tasmania, with candidate efficiency low-emission (HELE) key battleground state since 1949. hopes of sneaking over the line Centre Alliance 1 this election. Bridget Archer ahead by One Nation 2 coal-fired power plant proposed A failure to win two upper- in the western Sydney seat of Independents 3 Although the Blue 0.38 per cent or 504 votes. for Collinsville. ROSIE LEWIS Aust Conservatives 1 house seats in the Sunshine State Macquarie, which would take its TOTAL 151 Mountains part of the electorate Cowan in Perth has become a , who received Failed independent candidate and would reflect Labor’s poor show- tally in the House of tends to go Labor’s way, the tighter contest but Labor Lambie 1 an 11 per cent swing in the seat of Liberal defector Julia Banks has ing in the House of Representa- Representatives to 78, after it SEATS IN DOUBT Hawkesbury area is more incumbent is ahead by Capricornia, argued for the gov- taken a parting shot at her former tives, where the party is predicted had a 196-vote lead last night conservative. 0.5 per cent of the vote, or TOTAL 76 ernment to “move” on advancing MACQUARIE, NSW party, lashing out at alleged to win just six of 30 Queensland following postal and absentee If Labor lost Macquarie, two 757 votes. the development of cheaper power “tribalism and toxic culture” as her electorates — a net loss of two. vote counting. Liberal 196 ahead with of the three western Sydney Concerns that One Nation Centre Alliance senators Stirling options. counted political career comes to an end. Labor MPs said the same issues One senior Liberal source 87.55% seats won thanks to the could finish ahead of the Griff and , former “I think the swing in Queens- A staunch Turnbull loyalist, Ms in lower-house seats in the state — said that, barring “1000 votes BASS, Tasmania “Mediscare” campaign run by Nationals and cause Labor’s Tasmanian senator land was certainly about support- Banks also praised the “authentic equivocation over the Adani coal- being found in the wrong pile” in Liberal 504 ahead with the Labor Party against Joel Fitzgibbon some problems and the Australian Conservatives’ ing the coal sector,” she said. and inspiring leadership” of Mal- mine and an ambitious policy a recount, the party looked like 89.1% counted in 2016 would in the seat of Hunter appeared to Cory Bernardi. The Turnbull gov- “People want something done colm Turnbull and his deputy, agenda that included contentious snaring the seat by anything up return to the government. have dissipated last night, ernment introduced controversial about power prices. Cost of living is , saying serving under changes to negative gearing and to 400 votes, given the trend according to Liberal scrutineers. A third seat, Macarthur, with Mr Fitzgibbon ahead by Senate voting reforms before the still one of the biggest issues. I them was her “greatest honour”. dividend imputation credits — being shown in postal and Absentee votes have gone the remains in Labor hands. 2.65 per cent. 2016 double-dissolution election think we’ve got to move on it.” While congratulating the Lib- were at play in the Senate. absentee votes. Liberals’ way, 52 to 48 per cent, Scott Morrison was seen as a The national two-party- that abolished group voting Her LNP colleague , eral Party in a statement yester- The Coalition meanwhile is on So far, postal votes have gone and with about 2000 more better bet in western Sydney for preferred vote for the Coalition tickets, making it harder for inde- who received a swing of 6 per cent day, which effectively conceded track to pick up three Senate seats Liberal candidate Susan absentee votes to be counted, the “Howard battlers” than last night was at 51.2 per cent to pendent candidates to get elected in Hinkler, said the election was a defeat in the seat of Flinders, she in every state and in a best-case Richards’s way, splitting roughly they would have to be trending Malcolm Turnbull, and this Labor’s 48.8 per cent. on the back of preferences. “victory for common sense”. hit out at the “right-wing con- scenario could control 35 votes in 57 per cent to 43 per cent, the other way for Labor’s Susan proved the case on Saturday. ANDREW CLENNELL All seats are due to be declared “The Australian people very servative faction”. Ms Banks, elec- the upper house, meaning it would on or before June 28, with Senate clearly endorsed our policies, ted to Chisholm in 2016, quit the need the support of just four cross- seats to be finalised after those in which were sensible and balanced Liberals and sat on the crossbench benchers to pass legislation. This As of late yesterday, the Liberal first elected in 2013, is No 2 and In the 45th parliament the had six female MPs in federal the House of Representatives. positions on climate change and after Mr Turnbull lost the prime would significantly bolster Scott National Party was expected to would miss out. Coalition had 30 senators and had parliament. Nationals sources Labor traditionally wins at least on electricity generation and not ministership, blaming bullying, in- Morrison’s power in the Senate. pick up three seats, while Labor, “We’re definitely concerned. to wrangle a crossbench that at were “feeling good but not certain” two Senate seats in each state but forcing people to buy electric cars,” timidation and leadership turmoil. Labor has won two seats in the Greens and One Nation were The new voting system makes it a one stage grew to 12 independents. about Ms Davey’s chances. in 2013 it picked up only one in he said. “My hope is that the right-wing every half-Senate election in on track to win one each. bit harder to predict. (Mr Ketter) If Nationals candidate Perin The new crossbench is likely to South Australia and in Western “It was about jobs. There’s a conservative faction don’t con- Queensland since Australia Nita Green is No 1 on Labor’s may fall short,” Labor sources said. Davey, No 3 on the Coalition’s include One Nation leader Paul- Australia because of competition lesson there for the Labor Party, tinue to drown out addressing cli- adopted proportional represent- Queensland Senate ticket while “It’ll be a couple of weeks until we NSW Senate ticket, is elected, it ine Hanson and fellow Queens- from the Nick Xenophon Team who no longer represent working mate change emergency nor the ation in 1949. incumbent senator Chris Ketter, know (the final Senate results).” would be the first time the party land colleague Malcolm Roberts, and Palmer United Party. people.” Australian ethos of equality for all and humanitarian spirit,” she said. “Sadly, the tribalism and toxic Portfolio pitch sees Wyatt eager to reach another first nations milestone culture (in the Liberal Party) con- tinued. The reprisals and retri- bution, whispering campaigns, INDIGENOUS and the first to take a seat in the ‘The recognition of communities was a major concern, names that prevailed before settle- personal attacks and name- Coalition’s inner cabinet. traditional but he had also been told by a com- ment is a great way for our whole calling, social media rants, mess- It is not the first time Mr Wyatt munity-controlled health organis- state to move.” ages and emails from the puerile to VICTORIA LAURIE has expressed interest in the port- Aboriginal names ation in Hasluck that it had dealt He said New Zealand was a the offensive, and defamatory alle- folio. In an interview in 2016 after is a great way to with seven suicides. good model to follow in the way it gations and lies were unrelenting. Australia’s first indigenous minis- he became the first indigenous move’ Since winning Hasluck with an incorporated Maori language into “To those in the Liberal Party ter Ken Wyatt is likely to make federal frontbencher and assistant almost 3.5 per cent swing, Mr everyday life. including some current and for- history a second time if his request minister for health, he told The KEN WYATT Wyatt’s first public comments But he said he also observed in mer members of parliament who to become indigenous affairs min- Australian: “If down the track that AGED CARE MINISTER have been to endorse the “twin- Australia “a growing pride in hav- engaged in this behaviour, I say ister is granted by Scott Morrison. opportunity were offered to me, I’d ning” of European names of cities ing the duality and the recognition this: You don’t own me — you Mr Wyatt confirmed to The take it.” and locations with traditional of one of the oldest living cultures never did. And I don’t ‘owe a debt Australian he had told the Prime Last week, Mr Wyatt was given Aged Care and Indigenous Health Aboriginal names. and the retention of their language to you’. It’s a free country for peo- Minister before the federal elec- strong endorsement for his minis- Minister, has declined to elaborate He was responding to a pro- names to locations”. ple to run for office and advocate tion that, if the Coalition won, he terial skills by his friend John further on his portfolio preference, posal by Fremantle Mayor Brad A former parliamentary chair for what they believe in. To the would like to take on the portfolio Howard, who campaigned with saying it was up to the Prime Min- Pettitt to add the Nyoongar name of the committee on constitutional haters generally whose disturbing vacated by retiring indigenous him in Mr Wyatt’s outer-Perth ister. It is understood he has sup- “Walyalup” to the port city’s name recognition, Mr Wyatt has sup- behaviour adds to the toxic politi- affairs minister . electorate of Hasluck. Mr Howard port from several senior ministers as part of its reconciliation plan. ported some form of recognition of cal culture, I say this: Stop.” It would mean that Mr Wyatt, a urged shoppers to vote Mr Wyatt for the indigenous affairs portfolio, “I would welcome any local Aboriginal and Torres Strait peo- At noon yesterday, Ms Banks Nyoongar man born in a former back for a fourth time since he but faces a possible rival in Alan government across this nation ples within the Constitution and had 14.43 per cent of the primary mission for took Hasluck from Labor in 2010. Tudge, the Minister for Cities and doing what Fremantle is propos- last week praised the late former vote (11,920 votes) compared with children, would become the “Look out for him, he’s a good Urban Infrastructure. ing,” Mr Wyatt said. Labor prime minister Bob Hawke 46.63 per cent (38,518 votes) for MARIE NIRME nation’s first Aboriginal minister man,” the elder statesman said. He said indigenous suicide in “The dual naming and the rec- for his outstanding support of indi- Liberal . Hasluck MP Ken Wyatt is gunning for indigenous affairs to hold the portfolio of his people Mr Wyatt, who is currently ’s Kimberley ognition of traditional Aboriginal genous people.