On May 3rd, the Federal Election in Australia took place, with voters focusing on core issues such as cost of living pressures, housing crisis, energy transition, and relations with China.
In this election, nearly half of the 18 million registered voters had already completed voting before election day, setting a new record for early voting. This reflects the high level of concern among Australian voters regarding the political and economic situation, amidst the global economic uncertainty triggered by US President Trump’s tariff policies.
Currently, with a shortage of affordable housing supply and high interest rates, the major parties hold contrasting positions on how to steer the country away from its reliance on fossil fuel power generation.
The major parties also have differing stances on how to deal with China – Australia’s largest trading partner and a significant strategic threat.
According to data from the Australian Electoral Commission (AEC), approximately 6.7 million voters have already cast their votes early, and around 1.6 million postal votes have been received. AEC spokesperson Evan Ekin-Smyth stated that this means nearly half of the 18 million registered voters have made their choices prior to the official voting day.
He also cautioned that “the early counting results tonight may take longer to appear in the counting system than usual,” urging the public to be patient.
Polling stations opened at 8 AM and closed at 6 PM. Long queues were seen at many polling stations as voters decided who would become the 32nd Prime Minister of Australia.
The Australian, a leading newspaper, released a Newspoll survey before the election day showing that the Labor Party led the Liberal Party by 52.5% to 47.5% in the two-party preferred vote. However, both major parties’ primary voting rates may be approaching historic lows.
In this election, voters are generally dissatisfied with both major parties. The survey shows that nearly one-third of Australians intend to vote for minor parties or independent candidates.
Analysts believe that a minority government situation may still arise in this election, requiring cooperation with minor parties and independent senators to form a coalition government.
Since 2022, Australia has experienced peak inflation, with the annual inflation rate reaching 7.8% in 2023, and the benchmark interest rate rising to 4.35%. People are facing rising living costs, rent, and food prices, with some construction companies going bankrupt exacerbating the housing supply squeeze.
The Labor Party, led by Prime Minister Albanese, has proposed a plan to build 1.2 million new homes over five years and reduce the down payment threshold for first-time homebuyers from 20% to 5%, with the government providing guarantees for the difference.
The conservative opposition Liberal Party advocates for reducing immigration pressure, allowing the use of superannuation funds for housing down payments, and proposing that mortgage interest be tax-deductible.
Both camps support the goal of achieving net zero emissions by 2050, but their policy approaches differ significantly. The Labor Party aims to have 82% of electricity sourced from renewable energy by 2030, while the opposition proposes building seven nuclear power plants across Australia, expected to be operational by 2035, and using more natural gas during the transition period.
The opposition questions the government’s energy targets as being too radical and potentially affecting related technological investments, while the Labor Party believes that the current coal power facilities cannot sustain until nuclear power is established, and advocates for a strong push towards renewable energy reform to meet future electricity demands.
After the downturn in China-Australia relations in 2020, the Albanese government, since coming to power in 2022, has been dedicated to repairing diplomatic ties. In 2023, he visited Beijing, met with Chinese President Xi Jinping, and gradually worked towards dismantling trade barriers.
Albanese emphasized, “We will cooperate when possible, stick to our positions when necessary, and engage based on national interests.”
Opposition leader Peter Dutton has long been critical of China, advocating for a tough and uncompromising stance, believing that it would help improve bilateral relations. He accused Albanese of self-censorship to avoid offending Beijing.
During a speech at the Lowy Institute in Sydney in March, Dutton stated, “Australia must have the courage to criticize any country that threatens stability in our region, which is exactly what the coalition government I lead will firmly do, and join forces with like-minded countries.”
Although this election focuses on domestic affairs, the turbulence in the global economy and changes in trade policies still hold significant importance in the minds of Australian voters, and may even be key factors influencing their voting preferences.
US President Trump recently announced a 10% “baseline tariff” on exports from various countries including Australia. Despite Australia being a security ally of the US, it did not receive tariff exemptions, leading to market fluctuations and pressure on export-oriented businesses.
Although Trump and US domestic politics are not directly election issues, the effects of his policies undoubtedly serve as an indirect indicator influencing voter sentiments.