NZ's opposition party wins polls

New Zealand's new Prime Minister-elect John Key (R) waves to the crowd with wife Bronagh (2nd L) and children Max (L) and Stephie (2nd R) after defeating the ruling Labour Party government of Helen Clark yesterday. Key, a multi-millionaire former investment banker, will lead a National Party-led government after a big swing against Labour.Photo: AFP

John Key's centre-right National Party swept to power on a theme of change in New Zealand's elections yesterday, ending the nine year reign of Helen Clark's Labour Party.
Key's promise to foster the "politics of aspiration" struck a chord with New Zealand's three million voters, who gave the rich former investment banker a mandate to form a conservative alliance with the small ACT and United Future parties.
"In their hundreds and thousands across the country they have voted for change," Key said in his acceptance speech to supporters in Auckland amid scenes of jubilation.
"Today, New Zealanders have voted for action, for a safer, more prosperous and more ambitious New Zealand."
The election success was the realisation of a boyhood dream to become prime minister for Key, who only entered parliament in 2002 after amassing a fortune estimated at 50 million dollars (29 million US).
The centre-right National Party won 45.5 percent of the vote or 59 seats in a 122 seat Parliament. Key will have a majority with allies, the right-wing ACT Party with five seats and one more from United Future's Peter Dunne.
Since the complex mixed member proportional (MMP) electoral system was introduced in 1996, no single party has been able to control the parliament without the help of minor parties.
Key added a sober note to a night of celebration when he said the country of 4.3 million people -- which slipped into recession in the first half of the year -- would have to confront the economic fallout from the global financial crisis.
"We must make the most of our advantages because the state of the global economy and the global financial crisis means that the road ahead may well be a rocky one," he said.