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TEHRAN, August 24 - Australian Treasurer Scott Morrison to become new prime ministerTreasurer Scott Morrison will become Australia's new prime minister after winning a Liberal party leadership vote on Friday, ending an internecine battle that has scarred the conservative government ahead of an election due by May 2019.
TEHRAN, Young Journalists Club (YJC) - "We will have to see how things develop but Morrison's selection as Liberal leader likely gives the government a better chance at the next election than if Dutton had been elected leader. At this point, the betting markets strongly favour a change of government (Labor $1.37 , Government $3.05)."
"The political chaos...has increased the downside risks to the Australian dollar for both this year and next. The real issue is not who is going to be prime minister for the next few months, but who is going to be in the top job after the next election. It is possible that the change of leadership will boost the standing of the ruling coalition in the opinion polls. But it is also possible that the public will resent the infighting within the government, thereby boosting Labor's current lead in the polls."
"The Australian minerals sector encourages stable government following the Liberal Party leadership change along with a focus on the economic reforms needed to deliver growth and prosperity for Australian businesses and households. Our industry is keen on working with the government for decisive action to ensure a strong economy. This includes a competitive investment environment and less red tape."
Source: Reuters
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