The rise of the minor parties is a signal that everything has changed
Australia in the 1950s was cricket in the backyard under the hills hoist, and those political parties other than the ALP and the Coalition received 5 per cent of the national vote.
Fast-forward to 2016, and the minor parties received a collective 23.8 per cent of the vote for the House of Representatives and 35 per cent of the vote for the Senate.
Increasing cynicism of politics, the political class and the “rotten” organisational culture is one explanation.
Social inequality, the structural decline in manufacturing, globalisation, technological shifts and the disintermediation of old media are other excuses.
Maybe the Brexit “Leave” vote in the United Kingdom should not have been such a surprise!
Chief Executive Officer of Montgomery Investment Management, David Buckland has over 30 years of industry experience. David is a deeply knowledgeable and highly experienced financial services executive. Prior to joining Montgomery in 2012, David was CEO and Executive Director of Hunter Hall for 11 years, as well as a Director at JP Morgan in Sydney and London for eight years.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Jon E
:
It’s an interesting trend and I think it reflects the younger demographics who are fed up with the political elite.
It’s interesting to watch in the US where both candidates have a large portion of their voters who don’t like the candidate but like the other candidate even less.
Bad choice between 2 bad candidates.
Even more have apathy around the election in general.
I wonder how long it will be until Australians look through their parties and see that they aren’t really representing their constituents. (some exceptions)
David Buckland
:
Hi Jon, and with an Italian Referendum and a US vote over the next couple of months and a German and French vote next year I wonder if the protest vote agains the political class will demonstrate a surprise Brexit-type result. Markets dislike uncertainty!