Don is a schoolteacher living with his wife Kath and baby son in suburban Melbourne. On the night of the 1969 federal election he invites a small group of friends to celebrate a predicted Australian Labor Party (ALP) election victory, much to the dismay of his wife. To the party come Mal, Don's university mentor, and his bitter wife Jenny, sex-obsessed Cooley and his latest girlfriend, nineteen-year-old Susan, Evan, a dentist, and his beautiful artist wife Kerry. Somehow, two Liberal supporters, Simon and Jody also come. As the party wears on it becomes clear that the Labor party, which is supported by Don and most of the guests, is not winning. As a result, alcohol consumption increases, and the sniping between Don and his male friends about their failed aspirations gets uglier, as does their behavior toward the women. Mack, a design engineer whose wife has just left him, pulls out a nude photo of her for his friends' approval. Crass womanizer Cooley pursues the available women. The disillusioned wives exchange tales of their husbands' sub-par sexual performance. By the end of the night, Don and some of his friends have begun to grasp the emptiness of their compromised lives.