PM Launches Election Year with a Multi-State Campaign Blitz
The Prime Minister embarks on a whirlwind tour to rally support ahead of the upcoming federal election amid rising cost of living concerns
Australia, Anthony Albanese, Cost of Living, Election, Reserve Bank
Darwin: The Prime Minister is gearing up for a busy election year. He’s diving right into a multi-state campaign, hitting key areas that could swing the vote.
Anthony Albanese plans to zip through the Northern Territory, Queensland, and Western Australia in just a week. He’s focusing on those tight electorates where every vote counts.
He’s making it clear: “This election is about choosing between building a better future for Australia or going backwards.”
But it’s not all smooth sailing. The rising cost of living is making things tough for the government, and recent polls show support is slipping.
In fact, a recent Newspoll revealed that support is now at a deadlock, with both major parties sitting at 50-50. Labor is losing ground with some key groups.
In his latest push, Albanese is promising to invest in infrastructure, health, childcare, and housing to ease the pressure on families.
However, he’ll need some help from the Reserve Bank and favorable inflation numbers to really sway voters.
While the federal election date isn’t set yet, it’s expected to happen before May 17. The Reserve Bank has only a couple of chances to lower interest rates before then.
Mortgage holders are crossing their fingers for a drop in the cash rate, especially with the consumer price index data coming out soon.
That November CPI report is crucial, but the Reserve Bank usually pays more attention to the quarterly figures, which will be out later in January.
Treasurer Jim Chalmers is optimistic that low inflation numbers will help win over voters. He believes the data will show the government is making progress.
“The monthly numbers can fluctuate, but if we see a two in front of this week’s data, it’ll show we’ve improved since the previous government,” he said.
Chalmers pointed out that inflation was on the rise under the previous administration, but it’s been falling under Labor.
With a 2.8% rise in the September-quarter CPI, they’re finally back within the Reserve Bank’s target range for the first time in years.
Market expectations for inflation are hovering between 2.1% and 2.7% for the year leading up to November, but those monthly figures can be a bit all over the place.