First Party hold balance of power in final New Zealand election tally

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Final results in the election were published earlier today 7 Oct

  • National Party 44.4%
  • Labour Party 36.9 %
  • New Zeland First Party 7.2%
  • Green 6.3%

That gives the National Party 56 seats with a possible Labour-Green coalition on 54 leaving the nationalist First Party holding the balance of power with 9 seats, losing 2 to the Labour/Green bloc compared with preliminary results.

61 seats are required for a majority in the NZ parliament and while the results aren’t made official until 12 Oct at least the parties know where/how they stand now.

Labour leader Jacinda Arden says:

We will continue our negotiations in earnest with
potential support parties beginning this weekend.This now means that we have a strengthened mandate to negotiate and form a durable, stable coalition government
.”

New Zealand First says  it will hold discussions on Sunday with the National Party at midday
and with the Labour Party in the afternoon.

New
Zealand First leader Winston Peters told local media that knowing the
facts “puts us in a better position to make judgements” but would only make a decision on which party to back after the
final tally and after the results become official.

PM Bill English said that the final results did not change the nature of the
negotiations, which would now likely focus on the economy.

“I
don’t think it weakens it significantly at all,” 
referring to
National’s negotiating position. “The fundamentals haven’t altered, and
that is National has significantly more seats than Labour, we are larger
than a Labour-Greens combination.”

Reuters has more back story here

Expect the on-going uncertainty to continue weighing on NZD.

I’m heading out now so will wish you all a great//peaceful week-end and thanks again for your brilliant support.

See you all back here on Monday.

                       NZ PM Bill English – Not over the line just yet.

Source