Pretty close, but you skipped some nouns and you have too many "not"s in your sentence. The correct translation is “no, that is the time for learning German. Then you can shitpost in two languages”. Zeit is the word for time, and Sprachen means languages.
Correct. The party with the most seats in parliament forms the government. However, for a bill to pass through parliament and become law, more than 50% of the MPs in the house have to approve it. If the government party has fewer than half the seats in the house, they have a more difficult time passing legislation because they need to work with other parties to get the required votes. That’s what we call a minority government, and it’s what we had last term. If we get a majority government, the leading party can pass whatever laws they want, because MPs generally vote with their party.