Canberra, 4 May 2025 — Prime Minister Anthony Albanese has secured a decisive second term for the Australian Labor Party (ALP), following a federal election that saw a significant swing against the Coalition and the release of the 2025 Election Commitments Report by the Parliamentary Budget Officer (PBO).

The PBO published its final list of costed commitments from all parliamentary parties on Friday, 2 May, just hours before polls closed. The report provides a transparent accounting of each party’s proposed policies and their projected impact on the federal budget.

Labor’s victory comes on the back of a campaign heavily focused on easing cost-of-living pressures, improving healthcare, and delivering climate action. Major commitments included an $8.5 billion healthcare package aimed at bolstering bulk-billing and aged care, a $150 energy rebate, and sweeping reforms in the housing sector—such as a ban on foreign purchases of existing homes and the construction of 100,000 new dwellings.

In a sharp contrast, Peter Dutton’s Coalition suffered one of its worst electoral defeats, losing several key seats, including Dutton’s own in Dickson. The Coalition’s platform, which included support for nuclear energy and a focus on cultural conservatism, failed to resonate with voters in key urban and suburban electorates.

The PBO report serves as a critical tool for public accountability, detailing the financial implications of each party’s promises. It revealed that while Labor’s commitments were ambitious, they remained within projected fiscal constraints.

Political analysts say Labor’s clear messaging and disciplined economic narrative helped it regain trust among middle-income voters. “It was a campaign built on practical reforms, not ideological battles,” said political commentator Laura Cheng.

The full Election Commitments Report is available on the PBO’s official website, offering a detailed look at what Australians can expect over the next term of government.

Source : Parliamentary Budget Officer (PBO)