In a first for Australian democracy at any level of governance, the March 25 NSW state election has been axed following a very-early-morning agreement struck between Premier Dominic Perrottet and Opposition Leader Chris Minns.

Under the agreement nutted out in a rotunda in The Domain behind the NSW Parliamentary buildings just after dawn, the Premier has agreed to keep 12 of the safest LNP seats in the state, ceding 33 of his existing 45 seats to Mr Minns’ Labor Party.

The Bug‘s snapper captured Mr Perrottet (above) as he approached the meeting point just after 5am ADST.

The historic pact means Labor will dominate the 93-seat Legislative Assembly chamber with 69 seats.

Under the agreement, the existing 12 crossbench seats made up of a ragtag group of misfits including the Greens (three seats), Aunty Pauline’s One Nation (1) and various discredited right-wing nutjobs and cooker independents will be assured of their places in the next parliament.

Mr Perrottet will remain Premier until the new seats are declared on the Monday after March 25.

“Apart from saving the state millions in conducting the four-yearly poll, it really is a win-win situation for Herr ….sorry… Mr Perrottet and his colleagues,” an LNP insider told The Bug.

“The online bookies have clearly already written off the government – they’re getting close to pay-out odds, for fuck’s sake – and Herr .. sorry… Mr Perrottet was looking at the LNP being reduced to single figures in the new house. (Australia Day odds, below).

“He also knew that if his 21st birthday party Nazi costume photos were to emerge in the next two months, he’d end up with less seats than even the Western Australian Liberals. The LNP parliamentary wing could go to a caucus meeting on a bicycle.

“He could have taken a punt on the photos not surfacing but Minns pointed out Labor was prepared to release their own fake versions of them.

“Dom’s in such a bind and his mind is so muddled at the moment that he didn’t even factor in that the LNP-aligned mainstream media wouldn’t use the photos anyway.

“No, Herr ….sorry… Mr Perrottet’s done the right thing and I know his eleven lower-house colleagues who will be in the new parliament with him are very, very, grateful.”

The two parties are expected to nut out Upper House numbers in the next few weeks.