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Labor under the Prime Minister Bob Hawke retained governement.
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IN an exchange of Labor party leadership, Paul Keating became prime minister, succeeding Bob HAwke, who left parliament on 2o Febrauary 1992 after 12 years representing the seat of Wills.
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The first Coalition government for 13 years was sworn in, with John Howard as Prime MInister.
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Ministers of the new Labor government led by Kevin Rudd, with Julia Gillard as Australia's first female deputy Prime Minister, sworn in by the Governement General.
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After the closest year since 1961 produces a hung Parliament, intense negotiations enable Labor to form a minority gorvernment with the support of four cross-bench Memebers. Pm Website
