In three recent elections, centre-left parties have either been defeated (Australia, Norway) or have failed to achieve government (Germany). In two of these cases, it's a major setback because for Norway and Australia, the social acquisition of public resource wealth is being taken away.
Norway suffered a most unusual problem: "Our biggest challenge is that our oil wealth is so huge we run the risk of wasting it on substandard projects that are not profitable enough." Take the time to listen to this interview on why deriving public income from natural resources is much better than taxes on wages.
In Australia, mining companies and polluters have run a savage campaign against both carbon emissions pricing, and the resource rent on mining. The incoming right-wing government, heavily backed by the Murdoch Press, has vowed to support the polluters and mining monopolists.
In Germany, the overall left vote remained stable (Social Democrats up, The Left down, Greens down), along with a big swing to the conservative CDU/CSU, but with the Free Democrats losing 10%. As a result the conservatives must find a coalition partner; instead of the Social Democrats seeking an alliance among The Left and Greens, they are seeking a Grand Coalition with the conservatives. The last time they did this, they were absolutely hammered in the following election.