Australian PM Howard celebrates fourth poll win

Australian Prime Minister John Howard, a key US ally and supporter of the Iraq war, celebrated today his election win over Opposition Labour after voters enjoying the fruits of a strong economy gave him another term.

Howard's ruling conservative coalition won a fourth consecutive term yesterday with what appears certain to be an increased majority and in December he will become Australia's second-longest serving prime minister.

Gleeful members of Howard's Liberal/National coalition said the government's strong economic record had clearly tipped the balance against Labour and its 43-year-old leader, Mark Latham.

Analysts said financial markets would welcome an end to any election uncertainty, but expected no immediate impact on stock prices or the Australian dollar. The resounding nature of Howard's win also removed the remote risk of a hung parliament.

Further underlining the steady-as-she-goes message, no major reshuffle of Howard's cabinet is expected. Howard's victory ensures that Australian troops will remain in Iraq. Latham wanted Australia's 850 troops serving in and around Iraq home by Christmas.

The election attracted international attention because Australia's two Iraq war allies also soon face elections, the United States on November 2 and Britain in May or June. Howard's closest ally, US President George W. Bush, called Howard early today to congratulate him.

Australian voters focused more on domestic concerns such as interest rates during the six-week campaign rather than Howard's unstinting support for the United States or Labour's preference for closer ties with Asia.

Many Australian voters are sitting on comfortable gains from a hot housing market and are also enjoying strong employment, relatively low interest rates and a buoyant stock market.