In 2014, the party in power in Queensland is the LNP, which is the Liberal-National Party coalition.
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The party in power is whatever political party the President is affiliated with. Currently, the President is from the democratic party.
The Anti-federalists, or currently, the Libertarian Party
The head of a political party is known as a party leader. Some examples are a President, prime minister, and general secretary.
In Britain there is a political party known as Labour. Currently they are the party in power, forming the government. So Britain has a "Labour Government". The other main part is the Conservative Party. When they are in power there is a "Conservative Government", or because it is a nickname for their party a "Tory Government".
Republican Party