Prime Minister Scott Morrison says the result in the Wentworth by-election dented consumer confidence.
In parliament on Tuesday, Labor sought to attack Mr Morrison over his scaremongering during the Wentworth campaign that a hung parliament would cause ‘uncertainty in the economy’.
‘Does the prime minister stand by this statement? If not, why does the prime minister always say one thing before an election, and something completely different after the election?’ Shadow treasurer Chris Bowen said.
Mr Morrison said an ANZ-Roy Morgan survey showed consumer confidence took its largest fall since May 2012.
Analysts said the fall was due to political uncertainty.
‘The outcome and uncertainty of the election on the weekend did produce the result that I indicated that it would,’ Mr Morrison said.
However, he said the government had been working constructively with crossbench MPs to pass laws.
‘We have been getting on with the job of government.’
A likely victory by independent candidate Kerryn Phelps in Wentworth will put the coalition into minority government.