Anthony Albanese secured a decisive second term for Labor in the May 2025 federal election, expanding the party's House majority to 94 seats and strengthening his position against internal or external challenges. The next election must be called by May 2028, leaving limited constitutional windows for a change in prime minister through resignation, leadership spill, or loss of confidence before then. Recent focus has centered on the May 2026 federal budget's reforms to negative gearing and capital gains tax discounts aimed at boosting housing supply, which drew opposition criticism but aligned with Labor's campaign emphasis on intergenerational fairness. Polling aggregates continue to show Labor ahead on a two-party preferred basis, while no formal leadership contest or major party revolt has surfaced in the caucus. Scheduled parliamentary sittings and potential Senate negotiations on budget measures remain the nearest catalysts that could influence stability assessments.