Anthony Albanese leads a Labor government that secured re-election with a substantial parliamentary majority in May 2025. As of mid-May 2026, he continues in office while defending the federal budget's reforms to negative gearing and capital gains tax on investment properties, measures presented as addressing housing affordability but criticized as a broken election pledge. These changes coincide with rising support for minor parties including One Nation and the Greens, though no formal leadership challenge or snap election trigger has emerged. The next federal contest is not due until 2028 absent dissolution, and recent public statements from Albanese focus on economic management rather than personal or party transitions.