Australia PM Albanese calls general election for May 3
Australian Prime Minister Anthony Albanese has called for a national election to be held on May 3, aiming for a second consecutive three-year term for his Labor Party government.
The election is expected to focus largely on cost-of-living issues, which have been a significant concern for voters.
Albanese stated that the election will present a choice between his government’s vision to “keep building” and the opposition Liberal Party-led coalition’s proposal for cuts to government spending. During a news conference, Albanese emphasised his optimism for Australia’s future, distinguishing his campaign by focusing on hope and optimism.
Current opinion polls indicate that Labor is closely matched with the Liberal-National Coalition, led by former police detective Peter Dutton. This puts Labor at risk of becoming the first Australian government to serve just one term since 1931.
After defeating the center-right Coalition in the 2022 election, Labor has seen a drop in support, largely due to rising cost-of-living pressures, including a severe shortage of affordable housing.
Australia is facing one of the least affordable housing markets in the world. The median price-to-income ratio has nearly doubled between 2002 and 2024, and a Gallup poll conducted last year showed that over 75% of Australians are dissatisfied with the availability of affordable housing. Only Turkey had a higher level of dissatisfaction among the 13 countries surveyed.
Tom Switzer, executive director of the Centre for Independent Studies, attributed the problem to Australia’s regulated housing sector, which has limited development in major cities and imposed rigid planning approval processes from local councils. This, he argues, has made it increasingly difficult for young Australians to enter the property market.
In response to the housing crisis, Albanese’s government has pledged to build 1.2 million new homes by the end of the decade. However, the government’s progress has been slow, and estimates suggest that the target may be missed by 400,000 homes.
Dutton has proposed a plan involving 5 billion Australian dollars ($3.15 billion) to fund the construction of 500,000 new homes, alongside measures to reduce demand, such as cutting immigration and implementing a two-year ban on foreign investors and temporary residents from buying property.
Dutton criticized Albanese’s focus on a failed referendum regarding Indigenous advisory bodies instead of addressing pressing economic issues. He argued that Labor’s economic policies and spending have exacerbated the cost of living, making it unaffordable for many Australians.
Other key issues in the election include healthcare, immigration, energy, and climate change. While Albanese has pledged significant investments in green manufacturing and renewable energy, Dutton advocates for a shift towards nuclear power, proposing the construction of seven nuclear power plants and two small modular reactors.
Polling suggests that support for both major parties is at historically low levels, raising the possibility of a hung parliament. If neither Labor nor the Coalition secures a majority in the 151-seat House of Representatives, they would need to negotiate with the Australian Greens or independents to form a minority government.
Australia last had a minority government in 2010, when then-Prime Minister Julia Gillard relied on the support of the Greens and three independent MPs to remain in power.