Prime Minister Anthony Albanese is prioritising housing and cost of living as he prepares for the upcoming election. With new legislation passed, he aims to address the challenges facing Australians, including rising housing costs and inflation.
Australia's Prime Minister Anthony Albanese has shifted into election mode, aiming to regain voter trust that his government can address high living costs, particularly housing, after passing a flurry of legislation.
The 31 laws enacted during a midnight session on Thursday—including a world-first social media ban for children—have led to speculation that Albanese may call a national election before February. His centre-left Labor government, which assumed power in 2022, faces a tough race against the conservative Liberal-National coalition in an election that must take place by May 17.
Albanese’s public approval has dropped in opinion polls as households face the strain of soaring housing, energy, and food costs amid global inflation.
"We know that we have more work to do on cost of living, but we're making progress," Albanese said at a press conference on Friday. "We understand the pressure that people are under as a result of the global inflation surge." He added that the message to parents from the social media ban is: "We've got your back."
While Australian governments typically avoid election campaigns during the summer holiday from December to Jan. 26, Albanese has instructed lawmakers to begin soft campaigning.
His political standing is considered "perilous" after two years of high inflation and rising interest rates, which have increased mortgage costs, according to Mark Kenny, director of the Australian Studies Institute at the Australian National University. The central bank’s governor said on Thursday that core inflation is too high to allow for rate cuts in the near future, ruling out relief for borrowers at its next policy meeting in December.
"The government has been under extreme political pressure over the cost of living and the election will see no let-up on that," Kenny remarked. "However, Anthony Albanese ends the parliamentary year with several key wins on important pieces of legislation – most notably on social and affordable housing."
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