Goldman Sees Australia's Opposition Running Looser Fiscal Policy
Australia's fiscal policy is likely to be more expansionary under the center-right opposition than the ruling Labor Party, based on campaign pledges ahead of a May 3 election, according to Goldman Sachs Group Inc.
Economists led by Andrew Boak estimate annual net spending in the event the Liberal-National coalition wins the vote would be 'somewhat higher' in fiscal 2026 and 2027 than under Labor, as set out in the chart below. This largely reflects Liberal leader Peter Dutton's proposed one-off tax rebate and temporary reduction in the fuel excise rate, he said in a research note.
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