Albanese’s Win Offers Rare Chance to Fix Australia’s Economy
Anthony Albanese speaks at the Labor Party election night event in Sydney on May 3.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Prime Minister Anthony Albanese shocked Australia by securing an historic win in Saturday’s election. Now the question is whether he’ll use that mandate to push through tough measures to overhaul the nation’s economy.
For years, previous administrations have shied away from tackling politically difficult issues such as removing tax incentives for investment property and cutting red tape to improve housing supply. After winning a majority in parliament with the strongest mandate since World War II, Albanese’s center-left government now has the best chance in years to take the hard steps economists have called for to ignite growth.