Scott Morrison wins 2019 Australia election

Following the results of Australia's 2019 election, Wood Mackenzie and Verisk Maplecroft experts share their thoughts. 

Wood Mackenzie senior research manager Adele Long said: " The Coalition government will focus on reducing energy prices, underwriting new power stations which are likely to be low-cost coal and studying a new low-emissions coal generator in Queensland. This scheme attempts to reduce electricity prices, which rose approximately 122% from 2014 to 2017, through increasing the base supply of power from cheap coal.

"The Coalition's Renewable Energy Target (RET) remains in force, with a renewable energy generation target mix of 23.5% by 2020. Currently, the renewable energy generation mix is around 18%. The RET expires by 2020 and the Coalition has not set any clear targets beyond this.

"We expect the new government to continue to support the oil and gas and coal industries, due to the amount of export income, flow-on economic activity, employment and, ultimately, government revenue they provide."

Verisk Maplecroft analyst Joseph Parkes added: "The Coalition government’s shock victory indicates that its simple emphasis on the economic risks of change trumped Labor’s ambitious reform agenda. The long-expected swing to Labor did not materialise, and pre-election polling seriously failed to capture the electorate’s mood.

"Prime Minister Scott Morrison has decisively consolidated his position as the leader of the Liberal party by turning a seemingly hopeless position into a historic win. By defying the pre-election opinion poll trend, he has insulated himself from the damage that lagging poll ratings did to his predecessors.

"Morrison should be spared the relentless leadership speculation which derailed Australia’s last four prime ministers, at least until the next federal election comes into view.

"The Coalition ran a policy-light campaign leaving few clear signposts for what to expect from the next parliament. We anticipate broad policy continuity, and tax cuts will be front and centre as one of the Coalition’s few flagship policy offerings.

"The prospect of Australia passing a significant climate policy framework is likely off the table following Labor’s defeat, and with the Coalition’s divisions over climate change still unresolved.

"The government will again lack a majority in the Senate, and conservative Crossbench senators will continue to play an influential role in shaping legislation."