Australians will cast their votes on 3 May in a general election, with the mounting cost of living and an acute housing shortage poised to challenge the government’s prospects as Prime Minister Anthony Albanese’s centre-left Labour Party seeks a second consecutive three-year term.
Albanese drove to the official residence of Governor-General Sam Mostyn on Friday to formally trigger the election, later announcing the polling date during a press conference at Parliament House.
“Over the last few years, the world has thrown a lot at Australia. In uncertain times, we cannot decide the challenges that we will face, but we can determine how we respond,” said Albanese.
“Our government has chosen to face global challenges the Australian way: helping people under cost-of-living pressure while building for the future,” he added.
While Labour is pushing for a second term, opposition leader Peter Dutton’s conservative coalition is expected to make significant gains in the House of Representatives.
Australian governments seldom lose office after just one term, with the last such instance occurring in 1931 during the Great Depression.
However, a governing party typically loses ground in its second election, and Labour currently holds 77 out of 151 seats in the House of Representatives, just above the majority mark.
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With electoral redistributions reducing the total seats to 150 after the upcoming election, there is growing speculation over a potential minority government supported by independent or minor party legislators.
The 2022 election saw an unprecedented 19 lawmakers elected who were not aligned with either major party.
Their influence could prove decisive in determining whether Labour or Dutton’s Liberal Party forms Australia’s first minority government since 2010.
Leader of the minor Greens party, Adam Bandt, has signalled his willingness to back a Labour minority government—contingent on policy commitments from Labour.
“With a minority government on the cards this election, this is a once-in-a-generation chance to keep Peter Dutton out and get Labour to act on the housing crisis, the cost-of-living crisis and the climate and environment crisis,” Bandt told mediapersons.
The Greens previously supported Labour in a minority government in 2010, leading to the introduction of Australia’s short-lived carbon tax, which was later repealed by a subsequent conservative government.
The rising cost of living remains a primary concern for voters. Since Albanese assumed office, Australia has experienced 12 interest rate hikes.
However, in February, the central bank lowered the benchmark cash rate by 0.25 percentage points to 4.1 per cent, indicating that the worst of the inflationary pressures may have subsided.
Housing affordability is also a pressing issue. Albanese has pledged to address the shortage by building 1.2 million homes over five years, but progress on this 2023 promise has been sluggish.
Dutton, on the other hand, has vowed to ease competition for housing by reducing immigration.
Additionally, he has proposed allowing Australians to use savings from their compulsory workplace pension funds to make down payments on new homes.
On climate policy, both major parties have committed to reducing greenhouse gas emissions to net zero by 2050. However, their approaches differ markedly.
The Labour government intends to rely on renewable energy sources, such as solar panels and wind turbines, to phase out coal and gas.
In contrast, the opposition has pledged to construct seven state-funded nuclear power plants and advocate for new gas-fired power stations to maintain energy supply until nuclear facilities become operational.
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