Overview

• Prime Minister Anthony Albanese has formally set the federal election date for May 3, following a visit to the Governor-General to dissolve parliament.
• Labor's $17.1 billion phased tax cuts, starting in 2026, contrast with the Coalition's immediate $6 billion fuel excise cut, aiming to provide household relief.
• Opposition Leader Peter Dutton's budget reply also included a gas reservation scheme to secure domestic supply and a pledge to cut 41,000 public service jobs.
• The Coalition has criticized Labor's tax cuts as insufficient and delayed, framing its fuel excise cut as a more immediate solution for cost-of-living pressures.
• The election campaign will focus heavily on leadership and economic visions, with both parties vying for voter support in key suburban areas.