Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Labor party takes power in 'fresh start' for Australia's biggest state

Published 03/25/2023, 07:38 PM
Updated 03/25/2023, 09:30 PM
© Reuters. FILE PHOTO: Anthony Albanese, Australia's Prime Minister, attends the 2nd ASEAN Global Dialogue during the ASEAN summit held in Phnom Penh, Cambodia November 13, 2022. REUTERS/Cindy Liu/File Photo

SYDNEY (Reuters) -The Australian Labor Party in New South Wales state claimed power in an election on Saturday night, with voters backing the centre-left party's pledges on anti-privatisation and cost of living relief.

The election in Australia's most populous state had been touted as a tight race between the incumbent Liberal-National coalition and Labor, but the vote count on Sunday showed Labor on track to take the 47 seats needed to form majority government, after three terms in opposition.

The win marks further endorsement of the party of Australian Prime Minister Anthony Albanese, who joined his state counterpart Chris Minns in Sydney on polling day.

"A huge congratulations to @ChrisMinnsMP ... and the whole NSW Labor team on your election victory," Albanese said on Twitter late on Saturday.

Labor's win in New South Wales means the party now governs at state and federal level across Australia's mainland, leaving island state Tasmania as the conservative outlier.

"After 12 years in opposition the people of New South Wales have voted for a fresh start," Minns told supporters in Sydney late on Saturday.

"The people of New South Wales voted to put in a government that would put people at the heart of all decision-making".

Labor's campaign in the state featured a pledge to rule out further privatisation of state assets, and a promise to boost public sector wages, amid cost-of-living concerns.

Stubborn inflation has posed a challenge for the Reserve Bank of Australia, which this month lifted its cash rate to its highest level in more than a decade.

Speaking on Sunday, Minns said Labor had "commonsense initiatives" that would help bring down cost of living in the state. His government, once sworn in, would prepare laws to protect government utility Sydney Water from a future sell-off, he also said.

© Reuters. FILE PHOTO: Anthony Albanese, Australia's Prime Minister, attends the 2nd ASEAN Global Dialogue during the ASEAN summit held in Phnom Penh, Cambodia November 13, 2022. REUTERS/Cindy Liu/File Photo

Outgoing premier Dominic Perrottet, a social conservative Catholic and former state treasurer, was elected premier in 2021 after his predecessor resigned after a corruption watchdog probe into whether she was involved in conduct that "constituted or involved a breach of public trust".

Albanese, in the lead up to polling day, had urged voters in his home state to back Labor, saying the coalition government was "in shambles" due to infighting.

Latest comments

AnthonyAlbanese.Spinelessstooge
Aussie men have no testicles.
You sound like you know what you are talking about.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.