While we wait for the counting to be concluded, some things are starting to emerge about the new Federal Parliament.
Federal Election 2016
There is a good chance we will have a minority government. This is not uncommon, and in fact Julia Gillard governed for three years without an ALP majority in its own right.
The greater concern will be the make-up of the Senate. We now face the prospect of non-Government Members and Senators forcing action that the Government might not have wanted – such as a Royal Commission into banking and financial advice.
The potential for the independents and minor parties to exert pressure is already occurring – see our story on Senator Jacqui Lambie. It is likely this will become a regular experience over the next three years.
NIBA will be watching all developments very closely, and we will use our best endeavours to ensure steps are not taken which will jeopardise insurance brokers and their clients.