Australia Plans Federal Election May 3 Amid Economic Struggles

Australia is set to hold a general election on May 3, with Prime Minister Anthony Albanese's Labor Party facing significant challenges due to rising costs of living and a housing crisis. Albanese emphasized resilience in addressing global issues and aims to secure a second term despite declining approval ratings. Polls indicate a tightly contested race against Peter Dutton's conservative Liberal-National coalition, which may benefit from independent and minor party support in a potentially fragmented Parliament. The election will feature 150 contested seats in the House of Representatives and half of the Senate seats. Both parties have differing strategies on housing, with Labor promising new builds while the conservatives suggest using pension funds for home deposits. The outcome could result in a minority government, marking a historic shift in Australian politics.