Australia Votes in High-Stakes General Election: Albanese Battles Dutton Amid Inflation, Housing, and Trump Tariffs

As over 18 million Australians cast their ballots today, Prime Minister Anthony Albanese faces a tough challenge from Peter Dutton, with key issues like inflation, housing crisis, and global trade tensions shaping the nation’s choice.

May 3, 2025: Australia heads to the polls today, May 3, for a pivotal general election that could reshape the country’s political future. Prime Minister Anthony Albanese seeks a second term for his centre-left Labour party, while opposition leader Peter Dutton of the Liberal-National coalition aims to wrest power amid voter concerns over inflation, housing affordability, and global economic tensions sparked by US tariffs.

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According to a Newspoll published in The Australian on Friday, Labour holds a slim 52.5% to 47.5% lead over the coalition under the two-party-preferred voting system. Results are expected to roll out after 6 PM Eastern Time (1:30 PM IST), once the Electoral Commission begins counting the votes of Australia’s 18 million eligible voters.

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🔍 Key Election Issues:

1. Inflation & Interest Rates
Australia has been grappling with high inflation, which peaked at 7.8% in 2023. Although the Reserve Bank of Australia cut interest rates to 4.1% this February, uncertainty looms. PM Albanese has tried to reassure voters that the worst is over, but many are still feeling the squeeze.

2. Trump’s Tariff War
One of the biggest talking points has been the economic fallout from former US President Donald Trump’s global tariff policy. The Albanese government has labeled it “economic self-harm,” particularly due to its impact on steel and aluminum exports. Ongoing talks with the US seek to ease the tariff burden.

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3. Housing Affordability
Soaring home prices and rental costs have made housing a central issue, especially for millennials and Gen Z voters. Sydney’s median home price has reached A$1.19 million, ranking it second globally after Hong Kong. Critics blame speculation-friendly tax policies, land scarcity, and slow housing approvals for the crisis.

🗳️ Stakes and System:

The 151-member House of Representatives will determine the next government. Labour currently holds a fragile majority with 78 seats, while the Coalition has 53. Nineteen seats are held by independents and minor parties, giving them increased influence—especially if the election results in a hung parliament.

Australia’s unique preferential voting system requires voters to rank candidates. If no candidate receives over 50% of first-preference votes, the lowest-scoring candidates are eliminated and their votes redistributed until one candidate emerges victorious.

Voting is compulsory for all citizens over 18, and failing to vote attracts a fine of A$20.

As polling booths opened across the country—from Sydney’s iconic Bondi Beach to Melbourne’s inner suburbs—voters lined up in large numbers, deciding between continuity under Albanese or change with Dutton.

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Australia election 2025, Anthony Albanese, Peter Dutton, Australia voting system, inflation Australia, Trump tariffs, housing crisis Australia, Australian politics, Labour vs Liberal, preferential voting Australia