Australia’s Anthony Albanese claimed a historic second term as Prime Minister on Saturday, in a dramatic comeback against once-resurgent conservatives that was powered by voters' concerns about the influence of US President Donald Trump.

Peter Dutton, leader of the conservative Liberal party, conceded defeat and the loss of his own seat, echoing the fate of Canada’s conservatives and their leader, whose election loss days earlier was also attributed to a Trump backlash.

Supporters at Labour’s election party in Sydney cheered and hugged each other as Albanese claimed victory and said Labour would form a majority government.

“This is a win for the ages,” Labour Treasurer Jim Chalmers told ABC. Albanese "has pulled off one of the great political victories since federation.”

The results coming in were “absolutely unbelievable”, Labour supporter Melinda Adderley, 54, said through her tears at the election party.

Albanese would be the first Australian prime minister to win a consecutive term in two decades.

The Australian Electoral Commission website published early results showing Labour ahead of a coalition of the Liberal and National parties, 55.94-44% on a two-party preferred basis.

Dutton said he had phoned Albanese to congratulate him.

“We didn’t do well enough during this campaign. That much is obvious tonight, and I accept full responsibility for that,” Dutton said in a televised speech.

He also said he had spoken to Labour’s candidate in the seat of Dickson he had held for two decades, and congratulated her on her success.

“We have been defined by our opponents in this election, which is not the true story of who we are”, Dutton said, pledging the conservative party would rebuild.

Trump Comparisons

Cost-of-living pressures and concerns about US President Donald Trump’s volatile policies had been among the top issues on voters' minds, opinion polls had shown.

“If you sling enough mud, it will stick,” said Liberal Senator for the Northern Territory Jacinta Price, whose comments that her party would “make Australia great again” had fuelled comparisons to Trump’s own “Make America Great Again” slogan.

“You made it all about Trump,” she said on ABC. Dutton had said he would appoint Price to a ministry of government efficiency, one of several echoes of Trump’s policies.

“Losing Peter Dutton is a huge loss,” she added.

Opposition Liberal Party spokesman, Senator James Paterson, defended the conservative campaign, which he said was negatively affected by “the Trump factor”.

“It was devastating in Canada for the conservatives ... I think it has been a factor here, just how big a factor will be determined in a few hours’ time,” he told ABC.

The Liberals had been leading in opinion polls as recently as February, as voters blamed the government for cost-of-living pressures and high housing costs.

As counting got underway, Labour’s Chalmers said the government had been “in all sorts of trouble” at the end of 2024 but got back into the contest because of Albanese’s strong campaign performance, policies that addressed concerns about the cost of living, and the Trump effect.

“The economy became a positive from a negative - the interest rate cut was part of the story,” he told the Australian Broadcasting Corporation.

The central bank cut rates in February, on the eve of the election being called, reversing course after 13 interest rate rises that had ratcheted up home mortgage repayments for households.