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BrumbyALMOST 48 hours after polls closed in the Victorian election, Premier John Brumby has conceded defeat.

"The reason I am here today is that I have just spoken to Ted Baillieu and have congratulated him on his election victory," Mr Brumby said.

"I had a long conversation, a positive conversation, and I wished him every success.

"I have told him what a great honour it is to be premier of this state and wished him every success as he governs in the interest of all Victorians."

But he was also bullish about Labor’s achievement in government.

"There is no doubt we leave Victoria a stronger, better and fairer place than we found it 11 years ago."

He thanked his staff and supporters.

After 11 years in power, Labor suffered a backlash in the eastern and southeastern suburbs at Saturday’s poll, with a swing of around 6.5 per cent against the Government.

The Liberal-Nationals Coalition has secured 44 seats in the 88-seat lower house to Labor’s 43 and need 45 to form majority government.

The seat that hangs in the balance is Bentleigh, where the Coalition holds a 423 vote lead with around 3000 votes still to be counted.

While the Victorian Electoral Commission has indicated it is increasingly unlikely a result will be declared in Bentleigh today, Mr Brumby accepted the inevitable and conceded defeat.

Mr Baillieu, 47, will become Victoria’s 46th premier. He will visit the governor at 6.30pm (AEDT) to accept his invitation to form government.

Earlier today, Opposition Leader Ted Baillieu said that when Labor chose to concede defeat was a matter for the Premier and Victorians would judge him for it.

"The way he approaches it will be the way he is judged. What we are doing is getting on with the job of being ready to govern," he said.

"As I said on Saturday night, we are ready to govern, we want to make sure that we are in a position to do that in the event that we are asked to do so."

Mr Baillieu described the shadow cabinet meeting as long, productive and responsible. The Liberal leader said he and Nationals leader Peter Ryan were excited by the opportunities ahead but were not getting ahead of themselves.

‘Difficult for long-term governments’

Prime Minister Julia Gillard has batted away suggestions that Labor’s loss in the Victorian state election has implications for federal politics.

Ms Gillard described John Brumby as "a capable Premier" who had led Victoria "very ably".

She noted that Labor in Victoria had been asking for a further four years after being in office for 11 years.

"You don’t need to be too much of a student of political history to know that it is very difficult for long-term governments to present and have their mandate renewed," she said.

"I think that’s what we’ve seen happen in Victoria."

Ms Gillard said the Victorian election had been fought on state issues.

Source; www.news.com.au

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