The 2025 election platforms from both Labor and Liberal Party were underwhelming and lacked long-term vision.
Familiar talking points were repeated on housing, healthcare, and cost-of-living pressures. Labor focused on social programs and the environment; Liberals backed tax cuts and infrastructure. Both however lacked real vision for Australia’s future. Their plans felt safe and short-term, not bold and forward-thinking.
With major global challenges looming, neither party showed the leadership to drive long-term change in Australia. At election time, perhaps the best strategy is to make yourself a small target.
With pressing long-term challenges ahead, this may be the moment for Labor and Anthony Albanese to adopt a broader strategic vision – addressing foundational issues that impact all Australians and positioning the nation for sustained success over the next two to three decades.
The ALP is on track to secure 93 of the 151 contested seats. With support from the Greens, Labor is also set to control the Upper House. These numbers have earned Anthony Albanese the title of ‘giant killer’ – having unseated key opponents including Peter Dutton of the Liberal Party and Adam Bandt of the Greens. In the aftermath, the tensions between the Liberals and Nationals have culminated in an official split, marking the end of their decades-long Coalition.
Albanese has the opportunity now to push through significant changes.
Prime Ministers Hawke and Keating accomplished this by freeing up the financial systems and placing Australia in the new world economic order. Prime Minister Howard, punching above his weight, pushed through gun reforms and brought in the GST which holds up our tax system besides.
Years of vote-chasing policies and short-sighted strategies have fuelled a housing crisis. Young Australians and new migrants alike continue to struggle with the dream of home ownership. Tax sweeteners – like capital gains concessions, interest deductibility of investment loans, and SMSF property purchases – need urgent review. With an annual shortfall of 70,000 homes, we risk being 300,000 short by decade’s end. Blaming students or migration won’t fix this: bold, structural reform will.
Now could also be the time to review our 10% GST – sure, everyone loves tax cuts and hates tax increases, but our needs are changing with an aging population and slowing population growth, and we need to be nimble. With the size of the Labor win, it presents a once in a generation opportunity for structural tax reform.
The energy crisis must be handled head on, even at the risk of international reputational fallout. It’s hard to reconcile how Australia – one of the world’s largest gas exporters – sells gas more cheaply in Tokyo than in Sydney.
And then are opportunities for meaningful change in areas such as climate change and environment degradation; the distribution of GST amongst Australian states; economic diversification and investment in Australian tech, and of course, First Nations reconciliation.
The Coalition will finish this election at about 42 seats. With 76 needed to form government, it is safe to say that winning 35 more at the next elections in 2028 will be impossible. And Labor needs to take advantage of their strong position by floating big ideas to take to the next election. They may lose a few seats, but will have a mandate to implement real reform.
Albanese can then be a giant of Australian leadership, rather than just a giant slayer.
Read more: What Labor can – and must – achieve in its second term
