Australian Federal Election preview

Posted: July 1, 2016 in Uncategorized

Tomorrow there is the Australian Federal election and, while polls indicate a very tight election, bookies prefer the Liberal, Turnbull. (Coalition bets $1.11, Labor $8)

The gamble of Turnbull probably will not work – yes he will probably win the election – but the balance of power will be more tilted towards independents and Labor.

Even if a legislation has been passed to make it more difficult for the independents to get into Senate and roadblock reforms – it seems there will be enough independents anyway to stall some reforms in the Senate.

So probably various reforms and cuts in the Australian Budget will not pass and there is quite an high chance that Australian AAA rating will be cut with various consequences (also for the abnks and so mortgages).

Still will be one of the cleanest countries in the world – debt wise.

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