Canberra: Labour party led by Anthony Albanese in Australia has won in the Australia’s federal elections held on Saturday. The incumbent Prime Minister Scott Morrison of Liberal party conceded his defeat.

The outgoing Prime Minister Morrison congratulated Albanese for his victory. He took responsibility for the results and announced he would step down as leader of the Liberal Party.

The election results would end the coalition’s nearly nine-year hold on power with Albanese set to become Australia’s 31^st Prime Minister. According to the media reports, the newly elected Labour party leader Albanese after hearing results in his address who supported him, Albanese pledged to bring Australians together. I say to my fellow Australians, thank you for this extraordinary honour. Tonight, the Australian people have voted for change, he said.

Labor’s victory was delivered by large swings in the party’s favour and a collapse in support for the coalition. To my colleagues tonight, who have had to deal with very difficult news and who have lost their seats tonight. I, as leader, take responsibility for the wins and the losses, he said to supporters. As a result, Morrison said he will be handing over the leadership at the next party meeting to ensure the party can be taken forward under a new leadership which is the appropriate thing to do, he added.