Rudd Labor wins Federal election: what will change for business?

Labor has won the 2007 Federal election. Kevin Rudd will be the next Prime Minister. (see ABC results).

The immediate question is what will change for business and when?

Will Parliament be re-convened before year's end?

Who are the new Ministers? What are their priorities?

Here are Labor's policies.

The immediate areas of impact for business will be:

• workplace relations
• Occupational Health & Safety
• climate change, water and energy
• tax reform
• competition policy
• communications and broadband

Which areas will the Labor "razor gang" target? The Access Card project will probably be an early casualty.

Will there be an inquiry into financial services regulatory issues? Will ASIC and APRA be merged?

The Senate result is still unknown: although Liberals lost control (from 1 July 2008), Labor will not have a majority and it is likely the minor parties (Greens, Family First, independents) will have the balance of power. This could result in some interesting negotiations over Labor changes.

UPDATE 29 November: ABC News lists the new ministers and portfolios