Prime Minister Scott Morrison led his conservative government to a surprise victory in Australia’s election Saturday, seeing off a challenge from the left-leaning Labor opposition with his pledge to safeguard the slowing economy. “The economic story, the economic message, the economic choice was what differentiated the parties at this election,” Treasurer Josh Frydenberg said. Morrison faces a drawn-out battle to legislate planned income tax cuts that could provide much-needed fiscal stimulus for the economy. Morrison must also navigate the intensifying trade war between the U.S., Australia’s most important ally, and China, its biggest trading partner. The coalition has been in office since 2013 and can boast a solid economic record over its two terms.

Source: National Post May 18, 2019 14:36 UTC