Australia: Albanese’s win offers rare chance to fix economy

The strong result means they are almost certain to get a third term and can have more confidence implementing reform policies that may be less popular initially but will produce longer-term benefits,

said Jonathan Kearns, previously a senior official at the Reserve Bank of Australia and now chief economist at money manager Challenger Ltd

Quite clearly, the bond market will be asking questions how this spending will be paid for,

said Prashant Newnaha, a senior Asia-Pacific rate strategist at TD Securities

Significant economic reforms doesn’t seem to be a part of their agenda,

Diana Mousina, deputy chief economist at AMP Ltd

They know where to start,

he said, citing a number of past reviews of the tax system and productivity performance that are still “lying on the shelf.”

It’s early days, but the election-night address from the prime minister indicated a departure from culture wars and identity politics, and a focus on the fundamental concerns for households, such as housing, education, health care and child care,

Owen added

I think it's probably going to be more steady as she goes (on fiscal policy), rather than the aggressive change one way or the other,

said Oliver

Sure, budget deficits are not moving in the right direction, but the election outcome is not enough to threaten Australia's AAA credit rating,

said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities

I think what's happening particularly between the US and China does cast a dark shadow over the global economy and we're not uniquely impacted by that,

Chalmers said in an interview with the Australian Broadcasting Corporation

China stands ready to work with the new Australian government led by Prime Minister Albanese and, under the fundamental guidance provided by the important common understandings between the leaders of the two countries, continue advancing a more mature, stable, and productive comprehensive strategic partnership between China and Australia to further benefit both countries and peoples, and contribute positively to the peace and stability of the region and beyond

a Foreign Ministry spokesperson said

Global economic uncertainty really is the big influence on my thinking and my work on day one of a second term,

he said

We'll work hard each and every day,

he promised, but took a quick break first for an afternoon visit to a craft brewery, Willie the Boatman, that serves "Albo Pale Ale."

That’s a signal from voters that they want Labor in office, but they want it to do much more than incremental moves on the edges,

said Ms. Wallace, the historian

I was surprised by the extent of the victory, how comprehensive it was, how emphatic it was,

said Niki Savva, a political columnist and author

The Australian vibe is that we don’t want to go down that road,

Mr. Hooley, 35, said on Sunday

The Trump tariff decisions that were seen as mad by Australians, that really accelerated the process of people looking at Dutton, and at Trump, and going, ‘No,’

said Chris Wallace, a professor of political history at the University of Canberra

He did not have a single good day during the campaign, his policies didn’t hang together,

Ms. Savva said

He had too many changes, too many back flips,

the older Mr. Hooley said

I think he watched Trump too much,

said Mr. Richardson, 81, as he dropped off books at a free community library in a shopping complex a stone’s throw from the polling station where Mr. Dutton cast his vote a day earlier

What we do in Australia is we treat people with respect,

he said to cheers

I said to Ali, her son, Henry, would be incredibly proud of her tonight, and she’ll do a good job as a local member for Dickson,

Dutton said