The win by former Champions of the Bush CEO Darren Chester in Gippsland is as much a slap in the face for the Federal Government as it is a victory for the Nationals, while Premier John Brumby was been dealt a blow in the "safe" seat of Kororoit, with the party being taken to preferences in what was once its third safest seat.

In politics as in life, it’s not just about how much you win by, it’s how well you lose and what you learn from the loss. Clearly, voters in Gippsland have been stung by a heady cocktail mix of high petrol prices, interest rate rises, pressures on household budgets and concerns about future price rises that the Government seemingly (rightly or wrongly) has no control over.

Kevin Rudd would be wise to use the winter recess to rebuild some appeal to the electorate and consider his strategies when the parliament resumes with a very different make-up in the Senate.

Conservative political forces, though, would be wise to hold back on their harsh appraisals of the weekend’s results until the future of high profile MPs such as Alexander Downer and Peter Costello are determined. If, as many pundits predict, there is a future wave of federal byelections, expect the electorate to take a fairly dim view and vote accordingly.

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