Australian Election: Tight Race, But Labor Still Ahead

Australians head to the polls tomorrow for the Federal Election. This week's opinion polls have shown the race tightening but Labor is still in the lead, ahead of the incumbent Liberal/National coalition.

• Regardless of the outcome, the implications for markets will likely be fairly minimal.
• There isn't a great deal of difference in expected fiscal positions between the two parties. Labor has stated its plans will see larger fiscal deficits, but the difference is likely to be negligible over the medium term.
• Labor is also focused on boosting wages, highlighting cost of living pressures and the gap between headline CPI and wages outcomes.
• Policy continuity is largely expected if the Liberal/National coalition secures victory.
• Opinion polls this week have shown the race tightening, but Labor is still ahead on a two-party preferred basis 52% to 48% (which takes into account preferences).
• Read more in our full election preview at this link.