Conservative Leader Pledges to Quickly Cut Taxes and Boost Growth as Mining Boom Fades
Australia's incoming Prime Minister Tony Abbott said his conservative administration would move quickly to cut taxes and take swift action to boost the slowing economy as a long mining boom fades.
Sticking closely to the campaign script that won him Saturday's national elections, Mr. Abbott also used his first day as prime minister-elect to restate his promise to scrap an unpopular tax on carbon emissions and to curb the rising tide of asylum seekers.
Australia elected its first conservative government in six years this weekend, the Liberal National coalition, which handed Kevin Rudd's Labor party its heaviest defeat in decades.
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