"Labor with the second lowest primary vote in its history, but Labor would say that the answer is more debt, more deficit and higher taxes. Seriously. Seriously," Mr Turnbull says.
"So, my friends, I'm sure that as the results are refined and come in over the next few days with all of the counting, we will be able to form that majority government. But, let me say this without any fear of contradiction. The Labor Party has no capacity in this parliament to form a stable majority government. That is a fact."