Australia's Election Will Be a Tight Race. Whoever Wins Will ‘Struggle' to Manage Rising Costs

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Opinion polls show that the race is too close to call, but whoever wins will have to grapple with hot-button issues like inflation and the rising costs of living.

Inflation in Australia hit a 20-year high

Nearly 6 million voters out of an electorate of 17 million have already cast their ballots through postal votes or early in-person voting, official data showed, according to Reuters.Both Labor and the ruling coalition will have to address cost-of-living issues and challenges to economic growth, according to the political watchers.

The Labor Party will likely seek to be more"interventionist" in the economy, as compared to the coalition, said Oliver. Jackson pointed out that inflation has been driven by external events such as rising oil prices caused by the Russia-Ukraine war.Jackson said the coalition government has picked fights with China and that's not a positive.

 

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