Labor’s emphatic victory could buy it another six years in power, prompting an avalanche of demands from business that it address the nation’s productivity crisis, reform the tax system and repair broken environment laws while unions clamoured for more benefits for workers.

Prime Minister Anthony Albanese’s victory on Saturday also made it likely Labor’s stalled plan to double the tax on the earnings from $3 million-plus superannuation accounts, including unrealised gains, will now be implemented as part of its second-term agenda.