Whatever the outcome of Saturday's federal election, it appears likely Australia is entering another period of political and economic instability, with politicians more focused on internal squabbling and deal making than leadership and policy reform.

At the time of writing, Labor is leading in 69 seats, and the Coalition is leading in 64 seats, but the votes in a number of seats are very close. A party needs a minimum of 76 seats (out of 150) to form a majority government.

Turnbull has said he is "confident" of forming a majority government, because postal votes, which form the majority of the votes to be counted, have traditionally favoured the coalition.

But there are more questions than answers today. Counting will resume on Tuesday, though the final result may not be known for a fortnight, according to the Australian Electoral Commission.

In the meantime, Bill Shorten and Malcolm Turnbull are in discussion with independents.

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