Australia Prepares for a Pivotal Election Amid Rising Costs

Prime Minister Anthony Albanese announced a national election for May 3. With cost-of-living pressures as a central issue, his Labor party faces tight competition against the Liberal-National coalition. Both parties have pledged significant support for public healthcare, amid falling inflation and interest rate cuts.

Australian Prime Minister Anthony Albanese has officially announced a national election set for May 3, citing cost-of-living concerns as a primary focus for his campaign. Recent opinion polls indicate a tight race between his Labor party and the opposition Liberal-National coalition as votes from smaller parties are factored in.

At a press conference, Albanese emphasized Australia's resilience and highlighted the importance of building a future despite global challenges. Earlier, he met with Governor-General Sam Mostyn to gain formal permission to call the election, as required under Australia's constitution.

The campaign comes at a critical time, with Albanese facing declining approval ratings due to economic pressures. The Labor party is promoting tax cuts and other family-friendly measures. Meanwhile, opposition leader Peter Dutton focuses on law-and-order and introducing nuclear power, presenting a stark contrast to Labor's renewable energy policies.

(With inputs from agencies.)