Protectionism and nationalism may be the order of the day, judging by the recent federal election results. Picking up seats are Pauline Hanson from One Nation and Nick Xenophon and his team (NXT), but it’s also a strong result for the Nationals.
If the Coalition forms government, the Nationals might ask for the trade portfolio and lend their support to national procurement (a focus on locally produced goods and services), also supported by the NXT, says Geoff Cockfield, professor of government and economics at the University of Southern Queensland.
Senators such as Hanson will still have to form alliances to have any influence on certain business and economic policies. But not all the crossbenchers see eye to eye, Cockfield says.
Additional music by Dave Depper
Authors: Jenni Henderson, Assistant Editor, Business and Economy, The Conversation