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Steven Hamilton

Time for Albanese to grasp the reform nettle

The government got away with defying the laws of economics once, but it might not be so lucky again.

The great risk for Prime Minister Anthony Albanese in the wake of his historic victory on Saturday night is to misinterpret this near-death experience as divine providence. Make no mistake, this is 2022 on steroids. Peter Dutton, just like Scott Morrison before him, gifted the government this victory.

If, and only if, Albanese takes the right lesson away from the bloodbath, does he stand to emulate the record of John Howard as an initially underestimated and unlikely victor who went on to win four elections in a row. But it now seems, based on the numbers alone, as though Albanese will be tough to beat in 2028.

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Steven Hamilton is assistant professor of economics at George Washington University and visiting fellow at the Tax and Transfer Policy Institute at the ANU.

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    Original URL: https://www.afr.com/politics/federal/time-for-albanese-to-grasp-the-reform-nettle-20250504-p5lwc5