Goa, March 28 -- Australia will head to the polls on May 3 for a federal election, marking what is expected to be a tightly contested race. Prime Minister Anthony Albanese announced the election date from Parliament House on Friday, setting the stage for a showdown between his Labor Party and the Liberal-National coalition, led by Peter Dutton.

The election comes with Albanese's Labor Party defending a slim majority in the face of strong competition. Opinion polls predict a narrow margin between the two major parties, with the possibility that either may need to form a minority government, potentially relying on independent MPs or smaller parties, which secured a record share of votes in the last election.

Cost-of-living issues are expe...