The ABC broke the news around 10:30 pm on Thursday, announcing that the PM will visit Government House tomorrow to call the federal election for May 3.

Prime Minister Anthony Albanese and Opposition Leader Peter Dutton have each outlined their competing visions for the nation’s future.

…PM will visit Government House tomorrow to call the federal election for May 3.

Over the next five weeks, they will campaign to persuade voters that they are best suited to lead the country.

Cost-of-living pressures are expected to dominate the election debate, with years of high inflation straining households and businesses. Both major parties are putting forward their plans to address economic challenges.

The campaign’s first week could be particularly volatile, as a key interest rate decision from the Reserve Bank is set for Tuesday, and former US President Donald Trump is expected to announce a new round of tariffs on April 2 (US time).

With Labor needing to defend its slim majority—losing just three seats would push it into minority government—and the Coalition requiring 19 additional seats to govern outright, pollsters suggest a hung parliament is the most probable outcome.