Editorial: Five weeks in Federal Politics may bring about new tone

The modern news agenda moves at rapid pace.

It means the old phrase “a week is a long time in politics” seems out of date.

With that in mind, politics could look very different when Federal Parliament resumes after the five-week winter recess beginning on Friday.

And amazingly, it may well be the Coalition which most needs a change of fortune.

We say amazingly because the Coalition should be absolutely flying.

The Albanese Government has been hit with multiple blows since late last year.

There was its timid response to the rise of pro-Palestine protests and anti-Semitism.

The horror of the Bondi massacre and the Government’s limp response until it agreed to a royal commission.

And then its disastrous Budget, which broke promises given before the 2025 election on capital gains tax and negative gearing.

There have been opportunities galore for the Opposition to make up ground.

And yet the latest Newspoll had Labor on 33 per cent, One Nation on 29 per cent and the Coalition on a new historic low of 17 per cent.

Prime Minister Anthony Albanese has seemingly got to the winter recess with renewed vigour, this week congratulating his MPs for having “won” the Budget debates.

It would be more realistic if he had thanked the Coalition for allowing him and Treasurer Jim Chalmers to escape from the hook.

The pair will no doubt swan off to the Labor Party’s national conference later this month claiming the Budget has delivered for young homebuyers by cutting help for investors.

And yet within that boast there remains potential trouble.

This week the impact of the Budget on the housing market has started to become clear.

Housing investor loan applications, dwelling approvals, auction clearance rates and national home values have fallen.

There will be plenty of disgruntled homeowners if values plummet.

By the time Parliament resumes the data should give an even clearer picture of how the market is going.

And it will also coincide with a meeting of the Reserve Bank which may well decide to push up the cash rate again — landing another interest rate blow on home loan borrowers.

Australians’ levels of overall confidence can rise or fall along with their home values.

And confidence flows through to their spending habits, which has ramifications for businesses and jobs.

In another five weeks the level of support for One Nation will also be clearer.

Is the One Nation genie out of the bottle? Or is the recent surge going to recede?

Unhappy homeowners would seem to present a ready-made group for One Nation to pursue.

And it would also offer Angus Taylor a potential road back if he is able to work out a way to cut through more effectively.

The Liberal leader is set to head around the country on a winter break blitz in a bid to drum up his level of support.

And the extent to which he has lifted his stocks will become clear when the break ends.

He will need to make greater headway than he has done so far if he is to take the fight up to his opponents on both the Right and Left.

Responsibility for the editorial comment is taken by WAN Editor-in-Chief Christopher Dore