Anthony Albanese’s position as prime minister rests on Labor’s commanding majority secured in the 2025 federal election, which provides substantial protection against any near-term leadership challenge. Recent post-budget polling has shown a sharp decline in Labor’s primary vote and Albanese’s personal approval rating, driven by voter backlash to changes in negative gearing and capital gains tax rules that broke prior commitments. Opposition parties and minor parties have gained ground in these surveys, yet no formal spill motions or resignation signals have emerged from within Labor ranks. The next federal election remains years away, leaving scheduled parliamentary proceedings and routine economic data releases as the primary near-term factors that could influence trader assessments of stability.