Abbott Wins Australia Election

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from The Wall Street Journal,

Australia’s conservative opposition won a resounding victory in national elections, handing the Labor party its biggest defeat in decades and installing Tony Abbott as the nation’s prime minister.

Mr. Abbott seized power after enticing voters with a batch of promises including lower taxes, tougher border security, and measures to revive the economy as a long mining boom slows. His rival, outgoing prime minister Kevin Rudd, conceded defeat and said he would step down as Labor leader.

“From today I declare that Australia is under new management and that Australia is once again open for new business,” Mr. Abbott told cheering supporters.

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