Australian Prime Minister Anthony Albanese announced Friday that his administration, which was re-elected in the country’s first election in which younger voters outnumbered Baby Boomers, would prioritise lowering student debt as its first legislative priority.
For the first time since his government’s resounding election victory on May 3, Albanese spoke to a packed assembly of centre-left Labour Party legislators in Parliament House.
A prominent election topic was the difficulty that an increasing number of young Australians, especially those saddled with student loans, experience in purchasing their first house due to skyrocketing real estate prices and a dearth of new housing development.
When Parliament reconvenes in late July, Albanese indicated the first piece of legislation to be tabled will be a bill to cut student debt by 20%. That is significant, not only in and of itself, but also in light of our dedication to intergenerational equity,” Albanese stated.
People born between World War II and 1964 are called baby boomers. Australian political campaigns have historically been influenced by their requirements.
Labour was expected to get 88 seats in the House of Representatives, the lower house where parties require a majority to create government, as the vote count proceeded on Friday. In the previous parliament, the party controlled 78 seats.
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