A majority of voters in Australia want the Labor government out, threatening Prime Minister Anthony Albanese’s re-election as his approval rating hits a record low, a widely watched poll revealed on Monday.
A Newspoll conducted for The Australian newspaper said a hung parliament would be the most likely outcome if the poll numbers were to be replicated at an election due by May.
Majority Against Albanese
Some 53% of 1,244 voters in Australia surveyed said they did not believe the Labor government deserved to be re-elected with Albanese’s approval rating hitting a record low of minus 21, his worst as prime minister. A total of 34% said Labor should be re-elected.
The Albanese-led Labor government is struggling to lift support despite a slew of measures aimed at pleasing families and businesses grappling with high living costs and boosting jobs.
RBA Monetary Policy
The Reserve Bank of Australia (RBA) has held its monetary policy restrictive, keeping rates steady at 4.35% for more than a year as it looks to bring inflation to its target band of 2%-3% while preserving employment gains.
But core inflation is now almost back in the RBA’s target band and markets widely expect the central bank on Tuesday to cut rates for the first time since late 2020.
Australia’s Preferential Voting
The latest Newspoll survey showed the opposition Liberal-National Coalition has maintained its 51-49 lead on a two-party-preferred basis under Australia’s preferential voting system, where votes from minor parties are redistributed until a winner is elected.
Labor’s primary vote remained stuck on 31% compared to its 2022 election result of 32.6%, indicating Labor could lose up to eight seats preventing Albanese from forming a majority government, the survey said.
A party needs 76 seats to govern in a majority. Labor won 77 seats in 2022 and the coalition 58.
Even as more voters are turning against Labor, the opposition coalition has failed to capitalise on it with minor parties and independents lifting its support by a point, the survey said.
(With inputs from Reuters)
