Tony Abbott has taken to the stage to claim victory in the federal election, promising a competent and trustworthy government that sets about delivering its promises.
The Liberal leader is to be prime minister of Australia after claiming the 76 seats needed to win the election.
Mr Abbott greeted a roaring crowd of around 800 Liberal supporters at the Four Seasons Hotel in Sydney to claim victory.
“My friends, thank you so much,” Mr Abbott told the crowd.
“I can inform you that the government of Australia has changed for just the seventh time.”
His speech came just minutes after Mr Rudd conceded defeat at the Gabba in Queensland.
The incoming PM noted the Australian Labor party’s vote is at the lowest level in 100 years.
“From today I declare Australia is under new management and Australia is once more open for business,” he said.
“We will not let you down.”
More to come.