Australian Prime Minister Anthony Albanese has declared a national election for May 3, marking a campaign focused on cost-of-living challenges. With the Labor Party seeking a second term, the election features stark contrasts in economic approaches, with Albanese promoting growth while the opposing coalition indicates plans for budget cuts. Amid rising dissatisfaction over housing affordability, polling suggests a competitive race against the Liberal-National Coalition led by Peter Dutton, posing risks for Labor's ongoing governance and reflecting significant public concern over living costs in Australia.
Albanese emphasized, 'What I want is a campaign about policy substance and about hope and optimism for our country,' distinguishing his government’s vision from economic cuts proposed by opponents.
Opinion polls indicate Labor is neck-and-neck with the Liberal-National Coalition, risking becoming the first government to serve just one term since 1931 amid growing dissatisfaction.
Cost-of-living pressures, particularly in housing, have led to increased discontent, with over three-quarters of Australians dissatisfied with affordable housing availability, a stark rise from previous years.
Tom Switzer noted that Australia’s regulated housing sector and rigid local council planning contribute to the chronic shortage of affordable housing, squeezing younger generations out of the market.
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