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The 1976 Austro-Hungarian Legislative Election was held on 15 May 1976. The newly created coalition, the Alliance for Peace won an outright majority of 215 seats in the House of Deputies. Our Land, led by the National Liberal Party lost 113 seats and their majority, the largest electoral defeat in Austro-Hungarian history. The National Liberal Party had held a majority since 1951.

The election is widely considered to mark a turning point in the history of Austria-Hungary. Throughout the preceding 25 years of National Liberal rule, Austria-Hungary fought several major wars in its former overseas colonies. The conflicts inspired significant cultural shifts, with the populace and the ruling party becoming increasingly right-wing in the 1950s and 1960s. The National Liberals weakened the independence of the judiciary and marginalised the opposition. However, the right-ward shift led to a reinvention of left wing thought, embodied in the avant-garde and countercultural Vienna Wave movement.

Over 40,000 Austro-Hungarian soldiers died and at least 100,000 were injured in the series of conflicts. The 1955 Oil Shock triggered by Libyan Independence had lasting negative effects on the Central European economy. Subsequent colonial losses from Austria-Hungary and other European imperial powers resulted in economic stagnation and a steep decline in global trade from the 1950s to 1970s. This phenomenon is known as decolonisation and deglobalisation. By the 1971 Legislative Election, popular support for the National Liberal Party had somewhat deteriorated.

The charismatic leader of the center-left Democratic Pulse, Thomas Bezjak assembled a broad coalition of parties of the left, center, and of regionalism. The coalition, the Alliance for Peace united to oppose efforts to maintain overseas colonies through warfare. Another important priority of the coalition was to address and reverse the deterioration of democratic institutions under National Liberal rule. On other matters, viewpoints were diverse amongst the constituent parties.

The Alliance for Peace won a resounding victory in the 1976 election, ending 25 years of National Liberal rule. Minor parties such as the nationalist German Social Movement saw a significant increase in support as the right wing diversified.