The 1990 election was the Labor Government's and Bob Hawke's fourth successive electoral victory. No previous Labor government or Labor leader had enjoyed such political success.
But the election was a close-run thing, decided on the preferences of minor parties such as the Australian Democrats and the Greens. Ultimately, the ALP narrowly failed to secure a majority of the two-party-preferred vote.
The election was Andrew Peacock's second as Liberal leader. He had returned to the leadership of his party following a coup against John Howard in May 1989. National Party leader, Ian Sinclair, had been deposed at the same time and replaced by Charles Blunt. Blunt lost his seat of Richmond at the election.
Australian Democrats leader, Janine Haines, also failed in her attempt to capture the Labor-held electorate of Kingston in South Australia.