Home/Newsfeed

Australia Headed for Early Elections as PM Warns on Reforms

Share Print 0

Australian Prime Minister Malcolm Turnbull has warned he will dissolve parliament and call early federal elections if his reforms are not approved just six months into the job, marking yet another sharp turn in the tumultuous world of politics Down Under.

Announced early on Monday, Turnbull’s decision reflects increasing frustration with crossbenchers, or senators from minor parties, who have repeatedly blocked key legislation that the ruling Liberal Party deems essential for the economy.

At the crux of the issue is Turnbull’s desire to reinstate the Australian Building and Construction Commission (ABCC), the construction industry’s watchdog, which was abolished in 2012.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
,
Back to Top