Confirmed – Australian national election will be on May 3

Australian national election will be on May 3, Prime Minister Anthony Albanese has (finally) set the date.

The current government in Australia is centre-left, while the opposition is centre-right.

Australian financial markets are rarely troubled too much by a change in government. The differences between the two sides are rarely vast.

We await official election policies but top-of-mind right now is that:

• the government has promised new income tax cuts
• the opposition, on the other hand, have promised petrol (gasoline) tax cuts

Betting markets currently favour the opposition.

This article was written by Eamonn Sheridan at www.forexlive.com.