Australians warned of Brexit shockwaves
THE AUSTRALIAN Prime Minister, Malcolm Turnbull, has said that Britain’s decision to leave the EU had sent shockwaves through the global economy and he urged voters to return his party with a majority at elections on July 2 to ensure stability at home.
After a tight eight-week campaign, the coalition led by Mr Turnbull’s Liberal Party is facing a strong challenge from the opposition Labor Party and popular independents who could win enough seats to hold the balance of power in the Senate.
Australia is attempting to rebalance its economy away from a mining boom that has been stymied by tumbling commodities prices.
Domestic economic issues such as tax and the funding of education and health care have dominated the campaign.
Border security and immigration has also been an issue, leading to the return of far-Right political groups.
“The opportunities have never been greater, but so is the competition, and so are the uncertainties,” Mr Turnbull said in Sydney yesterday. “The shockwaves in the past 48 hours from Britain’s vote to leave the European Union are a sharp reminder of the volatility in the global economy,” he said, calling for a “stable majority government”.
Mr Turnbull called the election after blaming intransigent independents in the Senate for blocking his agenda. But the election may not help him, after the rising popularity of Nick Xenophon, an independent whose new party is fielding almost 50 candidates.
Mr Xenophon could emerge as the kingmaker in a hung parliament if opinion polls putting Mr Turnbull’s coalition neck-and-neck with Labor prove correct.