Bob Katter has announced his support for a Turnbull Led Government.
“We have spoken with the top people in the country and they have advised us that the ALP will not be able to form government,” he said.
“We do not want to go back to the polls, that should not be imposed upon the Australian people.
“So today we are announcing our support by supply and confidence for a Turnbull Government. I do so with no great enthusiasm.” MR Katter said.
Mr Katter said he did not get anything in writing from the PM today, but they did share a handshake.
The Katter support gets the coalition closer to forming Government.
As counting continues today there are 3 Queensland seats now seemly holding the key for Malcom Turnbull and the Coalition being able to given in their own right.
The count now stands at Coalition 73, ALP 66, Ohers 5.
There remain 6 seats in doubt, three of which are in Queensland and said to be key to the final outcome.
Those seats are Forde, Capricornia and Herbert.
The Coalition remains confident, it says, of achieving the 76 seats it needs to form a majority government and with Katter support its grasp on Government looks even more assured.
In other key developments, Australia’s credit rating has been lowered in the back of the July 2nd election result.
Standard and Poor’s has lowered the nation’s credit rating from “stable” to “negative”, while keeping it at AAA status level.
They become the first of the big ratings agencies to see adverse outcomes for Australia economically as a result of the weekend vote.