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Abbott wins Australia election

Tony Abbott has said he is looking forward to forming a "trustworthy and "competent" government after his Liberal-National coalition swept to victory in Australia's election. Earlier, Prime Minister Kevin Rudd conceded defeat to his supporters.

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PM-elect Tony Abbott vows to cut foreign aid

Tony Abbott plans to cut foreign aid and abolish a tax on carbon emissions. Credit: REUTERS/Daniel Munoz

Australia's Prime Minister-elect Tony Abbott has vowed to limit foreign aid and curb greenhouse gas reduction measures in a bid to help the country's economy.

The money saved is to be invested in road projects in Sydney, Melbourne and Brisbane.

Opponents and aid groups say the move is short-sighted and goes against Australia's image of global cooperation.

Mr Abbott also plans to visit Indonesia soon to discuss plans for the Australian navy to turn back Indonesian fishing boats carrying asylum seekers hoping to reach Australia.

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