Canberra, Australia (CNN) -- After six years of a Labor administration, including three tumultuous years of a hung parliament, Australian voters have returned to a conservative government and majority rule. Kevin Rudd, reinstalled as prime minister by his party at the 11th hour, managed to contain the size of the loss, likely to have been a wipeout under former PM Julia Gillard. New Prime Minister Tony Abbott had a long ministerial career in the former Howard Coalition government. But many questions remain about how he will handle the top job. He has been able to cruise into power primarily on Labor's infighting plus his promises to scrap the carbon tax, stop the asylum seeker boats and put the budget into better shape.
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Questions remain about how Tony Abbott will handle top job, says Michelle Grattan
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He inherits electorate that is disillusioned with and disengaged from politics, she adds
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New PM, while conservative, is likely to be centrist and pragmatic - Grattan
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Challenge for Australia is end reliance on mining sector
In Saturday night's victory speech Abbott said: ''From today, I declare that @placeholder is under new management and that Australia is once more open for business.''