The LNP Coalition has gained a majority in the House of Representatives and will form the next Federal Government.

It has already announced what it won’t do: it won’t remove the FBT motor vehicle statutory formula method as proposed by the former government.

It will keep Labor’s planned Financial Stability Fund, funded by a levy set at 0.05 per cent on deposits in ADI’s.

The new Treasurer (Joe Hockey) has previously stated he will initiate a review of the financial system within the first 100 days.

The new government has not stated its position on mandatory data breach notification or further consumer credit reform.

Legislative changes will require Senate support. The composition of the Senate is unclear.

The House of Representatives is next scheduled to sit on 1 October but it is possible that it may not resume until late October or early November.