Australia Headed for Early Elections as PM Warns on Reforms

Australian Prime Minister Malcolm Turnbull has warned he will dissolve parliament and call early federal elections if his reforms are not approved just six months into the job, marking yet another sharp turn in the tumultuous world of politics Down Under.

Announced early on Monday, Turnbull’s decision reflects increasing frustration with crossbenchers, or senators from minor parties, who have repeatedly blocked key legislation that the ruling Liberal Party deems essential for the economy.

At the crux of the issue is Turnbull’s desire to reinstate the Australian Building and Construction Commission (ABCC), the construction industry’s watchdog, which was abolished in 2012.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.