If the 2025 Australian federal election proved anything, it’s that the era of major party dominance is approaching its end. It is true that Labor secured more seats than in the previous election, but the combined first preference flow to the major parties continues its downward trajectory.
The voters have spoken.
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Dimitri Burshtein is a principal at Eminence Advisory. Peter Swan AO is professor of finance at the UNSW-Sydney Business School.
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