Australia's Labor Party will form the country's next government after winning the support of two independent lawmakers, ending two weeks of uncertainty following national elections.

Labor will control 76 of the country's 150-seat House of Representatives after independents Tony Windsor and Rob Oakeshott joined the party's coalition, The Associated Press reported.

The move will allow the Labor Party, led by Prime Minister Julia Gillard, to continue with plans to introduce a 30% tax on iron ore and coal miner profits, and make the country's largest polluters pay for carbon emissions.

"Labor is prepared to deliver stable, effective and secure government for the next three years," Gillard said.

Gillard said she has offered Oakeshott a Cabinet position, which he has not yet accepted. Windsor has said that does not want such a job.

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OK..there goes the investment climate and the Aussie dollar. Businesses are going to be hammered. When the first thing you mention is a 30% tax on one of your countries premier industries...well, what do you think is going to happen? Growth? No!, Business Investment? No. Time to sell Australia.

September 07 2010 at 11:36 AM Report abuse -1 rate up rate down Reply