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Translations:

Australian Labour = Socialists?

Yes - ranging from moderate socialists (almost centrists) to quite extreme forms.

(Dark) Shadow minister = Vice President? Lady in Waiting?

OK - in the Westminster Parliamentary system which Australia copied with some variations from the UK, the Government is the party (or parties if there is a coalition as we have at the moment) which controls the lower House of Parliament (House of Representatives in Australia - we also copied some things from the US, House of Commons in the UK). The next largest party (or groups of party) - the party that could form government at the next election if they win is referred to as the Opposition - and basically the Opposition forms a 'government in exile' - they are supposed to be ready at all times to form a new government.

So government positions have a mirror in the opposition. The Prime Minister's mirror is the Leader of the Opposition. The Cabinet, appointed by the Prime Minister, is mirrored by the Shadow Cabinet, appointed by the Leader of the Opposition. Senior government Members of Parliament are appointed Ministers, and senior oppositon Members of Parliament are appointed 'Shadow Ministers'.

So, for example, the 'Shadow Minister of Defence' is the Labor parties main spokesman on Defence matters, and is responsible for Labor's defence policy.

Victorian = the province that they hail from?

Yes, although we refer to them as states. Australia has six states - New South Wales, Victoria, Tasmania, South Australia, Western Australia, and Queensland, and two major territories (areas that have a more limited form of self-government than the states) - the Northern Territory (which refused statehood a few years ago), and the Australian Capital Territory (kind of a counterpart to the District of Columbia in the US - it contains our nations capital, Canberra).

ALP = Australian Labour Party?

Australian Labor Party - they adopted the American spelling of Labor at some stage in the past, for some reason. Victorian = the province that they hail from? ALP = Australian Labour Party?