Kevin Rudd the Prime Minister of Australia conceded defeat to Tony Abbott’s Liberal National coalition in Australia’s general election.

After more than two-thirds of all the votes tallied, the Liberal National Coalition had secured a majority in the parliament.

Leader Rudd of Labor said he phoned Abbott, wishing him well in his new position.

The election campaign had been quite dramatic; Kevin Rudd succeeded in ousting former Labor leader and Prime Minister Julia Gillard, weeks before the polls.

The biggest issues in this year’s elections were carbon tax, the economy and asylum.

Rudd called this election following his ouster of Julia Gillard in June in a challenge of leadership, amidst a polling figure that indicated Labor was on track to be completely wiped out.

When Rudd took over, figures for Labor initially improved in a significant way, but Abbott, who was helped with support from the media empire of Robert Murdoch, was able to open the gap all over again.

Rudd said he did everything possible to win, but it was not in the cards. However, he said he had been pleased with Labor being preserved as a fighting and viable force in politics moving forward.

Abbott has not been heard from as of yet. He took control of the coalition during 2009. Abbott is a Rhodes Scholar, who at one time was going to be a priest. He pledged to repeal the carbon and mining taxes introduced by the Labor coalition.

He also promised to put many budget cuts into place, including lowering the amount of foreign aid by over $4 billion. He also pledged to fund an increased paid parental leave program.

The campaign has centered a great deal round the country’s economy. The new leader in Australia will have to manage a transition as the resources and mining boom begins to subside amidst less demand from Asia and falling prices in commodities.

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