Mining magnate to share balance of power in Australian Parliament
CANBERRA (Reuters) - Outspoken mining magnate Clive Palmer is set to play a key role in Australia's new Parliament after his start-up party won a third Upper House seat on Wednesday, giving him the power to block or pass laws.
His Palmer United Party could be crucial when conservative Prime Minister Tony Abbott, who won last month's election, tries to pass his reforms, including the abolition of a carbon tax and mining tax, through Parliament.
The self-described billionaire and resort owner, who plans to build a replica of the Titanic, formed the Palmer United Party less than a year ago after quitting his membership of Mr Abbott's Liberal-National Party alliance.
Election results on Wednesday confirmed his party will share the balance of power in the Senate with five other cross-benchers, who are mainly conservative leaning.