Prime Minister Kevin Rudd said he will not run for Labor Party leadership when the new parliament convenes, The New York Times reported. Rudd kept his parliamentary seat, but the conservative coalition headed by Abbott, the Liberal Party leader, picked up many seats in the southeastern states of New South Wales and Victoria and in Tasmania.
Abbott told Liberal Party members at a victory rally in Sydney his government will end the carbon tax, stop the flow of illegal immigrants, balance the budget and begin construction of "the roads of the 21st century" within three years, the Australian Broadcasting Corp. reported.
He promised to govern for all Australians, whether they supported him or not.
"And from today, I declare that Australia is under new management and that Australia is once more open for business," he said.
Rudd, a former prime minister, took over this year from Julia Gillard, a move his party hoped would stave off electoral defeat after six years in office. The Australian Electoral Commission reported the coalition won 91 seats and Labor only 54.
Labor had one fewer seat than the coalition in the current parliament but was able to govern with support from independents.
Notable deaths of 2014 [PHOTOS]