BILLIONAIRE Sunshine Coast resort owner Clive Palmer will hold the balance of power in the Senate after securing a vital pact with other minor party Senators.
Mr Palmer announced in Sydney a short time ago that his Palmer United Party had struck a deal with Australian Motoring Enthusiast Senator-elect Ricky Muir.
The PUP is expected to have three members enter the Senate next year, and play a crucial role on the crossbench.
Mr Palmer was joined by his Queensland Senator, former footballer Glenn Lazarus, Jacqui Lambie (Tasmania) and Dio Wang (Western Australia), at the Sydney announcement.
Mr Palmer is still fighting for his own seat of Fairfax with a recount underway.
The PUP leader warned the Tony Abbott government would face a 'very cold winter' if it refused to negotiate with the new power block.
But he said he was confident Australia could have a prosperous summer if the LNP negotiated.
Mr Palmer denied he alone would be calling the shots, saying it was about ensuring Australia had the right policies going forward.
"It's really about policy. It's not about me,'' he told reporters.
He said PUP members and Ricky Muir would play a key role in policy development and implementation.
He said the four Senators would be working as a team.
"The message is we are one team of people working together,'' Mr Palmer said.
He said Australians managed to agree on 95% of things but politicians managed to argue over the remaining 5%.