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As 9News political editor Charles Croucher pointed out on Today, the Liberal party was the only contestant to come away with what amounted to a loss.
Labor is on track to form a majority government, but with fewer seats than the previous term.
Both the Greens and the Nationals are celebrating an increased representation in the state parliament, while the Teal independents might also pick up a seat.
“Effectively this means it’s been a bad night for only the Liberal party,” Croucher said.
He said it was part of a persistent problem the party faced around the country.
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“Three losses in a row for the Liberal party (in Victoria), three losses in a row for the Liberal Party in Queensland. The wipeout in Western Australia, the loss at federal level, loss in South Australia,” Croucher said.
“There is a brand Liberal problem moving forward. That is something that will take a lot of people to solve and there is no simple answer for it.”
He said it was unlikely Victorian Liberal leader Matthew Guy could stay on after having lost two consecutive elections.
Victorians go to to the polls
Counting is continuing in multiple seats.