One Nation closes in on Farrer by-election win in Australian political shake-up
In the Farrer by-election, a historically safe rural seat in New South Wales, the right-wing One Nation party has moved into a clear lead, in a heavy blow to the Liberal-National Coalition. Federal officials will read the result as confirmation of rural backlash against Iran-war fuel-price hikes. Final tallies are due tomorrow.
In the wide rural electorate of Farrer in New South Wales, vote counting is showing the One Nation candidate pulling clearly ahead of the Liberal Party. The seat has stayed in Liberal hands since 1949, and exit polls now give One Nation a roughly 4% lead.
The by-election was triggered by the resignation of the sitting Liberal MP for health reasons. Throughout the campaign, fuel-price hikes linked to the Iran war, water shortages, and irrigation policy dominated the agenda. Liberal leader Sussan Ley called the result 'disappointing but a message,' while the Albanese government described it as 'the beginning of the end for the Coalition.'
Markets are watching closely. The Australian dollar slipped 0.4 cents intraday and the ASX 200 dropped 0.3% on political uncertainty concerns. Official results are expected to be confirmed tomorrow evening.
More from Australia-Pacific
Xero founder Rod Drury returns New Zealander of the Year award amid misconduct claims
Sir Rod Drury, founder of New Zealand's global accounting-software firm Xero, has returned his 2024 New Zealander of the Year award following workplace-misconduct allegations against him. The move pre-empts a formal review by the awarding committee. Xero shares dropped 1.8% on the Australian Securities Exchange.
Kremlin tells Australia to evacuate its Kyiv embassy amid 9 May parade tensions
Russia's foreign ministry asked Australia to temporarily vacate its Kyiv embassy ahead of the 9 May parade. Australia's foreign minister called the warning a 'baseless threat'. The embassy continues to operate.
CSIRO presses on with job cuts despite 387 million dollar funding boost
Australia's federal science agency CSIRO confirmed it will press ahead with cutting around 500 researchers and support staff despite a 387 million Australian dollar funding boost. The CPSU union called it 'a blow to national science infrastructure'. The government says it stands behind the agency.