Australia's Prime Minister Anthony Albanese. Photo: RNZ / Angus Dreaver
Australia's Prime Minister Anthony Albanese will head to Government House on Friday to call the federal election for 3 May.
With both Albanese and Opposition leader Peter Dutton laying down their competing visions for the next term of parliament, the pair will now ready for a five-week campaign where they will seek to convince voters each is the right person to lead the country.
The cost of living is likely to dominate the campaign, with more than two years of high inflation putting the pinch on families and businesses, and each party offering its own answers on how to respond.
The stage is also set for a potentially tumultuous first week on the campaign trail, with a cash rate decision by the Reserve Bank due on Tuesday and United States President Donald Trump's threat of a new round of tariffs to be announced on 2 April, US time.
Opposition leader Peter Dutton Photo: AFP
With just three seats to lose to force Labor into minority government, and 19 for the Coalition to pick up to be able to govern in its own right, pollsters have favoured a hung parliament as the most likely outcome based on current opinion.
But successive polls have also identified a larger-than-usual bloc of uncommitted voters, raising the stakes for each of the leaders this campaign.
Parliament was frenetic on Thursday with expectation of an imminent election, and with Dutton due to deliver his budget reply on Thursday evening.
The ABC confirmed Albanese's election plans just an hour before that event.
The prime minister is now readying to visit the governor general, just down the road from Parliament House, where he will advise her to dissolve parliament, and call an election.
Both camps will then race out to the seats they are hoping to hold or flip, setting off a five-week race around the country.
The most hotly contested seats are around Melbourne and Sydney's outer suburbs, with polls suggesting those are among the likeliest to change hands and determine the election outcome.
However, both parties will have to campaign fiercely in every state and territory to guarantee enough seats to be able to govern - 76 seats are needed for an outright majority.
Major policies with a chance of tough negotiations
Voter dissatisfaction with traditional politics saw the crossbench expand significantly at the last election, and a host of new independents joining the lower house.
If that trend continues, it could force Labor or the Coalition into negotiations after polling day to secure confidence to govern - with the tax system, transparency and climate change among a host of priorities on the crossbench.
Among Labor's significant promises are to deliver a "modest" tax cut for all taxpayers that will amount to about A$10 (NZ$10.97) a week back in people's pockets, to build and expand 160 childcare centres under a $1 billion fund, and to slash student debts by 20 percent as a one-time measure.
Among the Coalition's significant promises are a 25 cent per litre reduction off the cost of fuel and a promise to change Australia's power mix forever by building seven nuclear power plants by 2050.
Both parties have committed to more than $10 billion in health spending including measures to boost bulk-billing rates and cut the cost of medicines, a $150 energy bill rebate to be paid from July and a two-year ban on foreign investors from purchasing homes.
- ABC
