...MELBOURNE (S&P Global Ratings) May 23, 2022--Fiscal outcomes under Australia's newly elected Labor government will be key to the rating on the country. Our rating on the Australian sovereign (###/Stable/A-1+) focuses on the effectiveness, stability, and predictability of policymaking, and economic and fiscal outcomes--it is apolitical and impartial to the rhetoric of election campaigns. A change in government by itself has no effect on our ratings or the stable outlook. Fundamentals, such as our projected fiscal recovery, that support the rating remain sound. The new government has made a range of promises around energy investment, manufacturing, housing, childcare, health, and education. These policies, and saving measures, will require negotiation with minor parties and independents to pass legislation through the Senate. While counting continues, the government could have a majority in the House of Representatives. We will examine the new government's policies, and their impact on the...
