Sussan Ley tells Liberals 'change or die' after One Nation's historic Farrer win
Opposition leader Sussan Ley urged the Liberal Party to 'change or die' after the populist One Nation's historic by-election win in Farrer, a result that rattles the federal coalition's balance.
The Liberal Party's seventy-year hold on the seat of Farrer ended as One Nation's Bryce Carlton secured the seat on a 51.4% two-party-preferred swing. Speaking in Perth, Sussan Ley said: 'Our message is not reaching farmers and young people — fundamental change is required.'
Independent MP Allegra Spender of Wentworth called the result 'not just a rural blowback but a mainstream rupture in agricultural seats.' Prime Minister Anthony Albanese said: 'The parliamentary arithmetic has not changed, but the depth of social discontent must be acknowledged.'
The Australian dollar ended the week at 0.667 against the US dollar after the news. The ASX 200 closed down 0.4% on the week, with notable retreats in coal and dairy. Markets are pricing the political risk premium to persist into the RBA's June meeting.
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