Saturday 21 May 2022 02:13 PM Labor Anthony Albanese previously backed move to remove Queen as head of state ... trends now Republican Anthony Albanese has triumphed at the Australian election after he vowed to tackle the cost of living crisis with more public spending. Mr Albanese has long been a republican who believes the Queen should not be head of state in Australia and previously said the country should hold a national vote on becoming a republic in 2018. However, the Labor party manifesto did not include any plans for a referendum on republicanism and the party has not announced any plans to do so - meaning the status quo will remain. Albanese's top five policies for a 'better future': Housing: Labor proposed a 'Help To Buy' scheme, which would see the government take a 40% stake in up to 10,000 homes a year to help people earning less than $90,000 on to the property ladder. Albanese will also create a $10billion Housing Australia Future Fund to build 30,000 new social and affordable housing properties in its first five years. Health: The Labor leader pledged 50 first-aid clinics across the country if he wins the election. Labor will also increase government subsidies for medicines on the Pharmaceutical Benefits Scheme by reducing the maximum cost for the patient from $42.50 to $30 per script. Manufacturing: Labor will set up a $15billion National Reconstruction Fund to fund major manufacturing projects across the nation. Electric Vehicles: Labor will spend $20billion to upgrade the electricity grid to improve transmission, roll out 85 solar banks and 400 community batteries and invest in 10,000 'new energy apprentices' alongside a $10million New Energy Skills Program. The gender pay gap: Albanese vowed to introduce a law forcing companies to reveal how much they pay men and women if he becomes prime minister. Advertisement Former PM Malcolm Turnbull led a failed republican campaign during a national referendum on the issue in 1999, which was lost with almost 55 per cent of the voting public choosing to remain. There were jubilant scenes at Labor headquarters in Sydney today after the party won for only the fourth time since World War II. Mr Albanese will become the 31st Prime Minister of Australia by ending the Coalition's nine years in power in a bloodbath for Scott Morrison. His victory comes after Labor pledged to spend an extra £4.1billion compared to the coalition over the next four years if it won today's election. He said earlier this month: 'The work of building that better future will start the very next day'. Releasing his policy costings just two days before today's election, Albanese said he planned to increase Australia's debt by £4.1billion - with big spending on childcare, free TAFE (Technical and Further Education), renewable energy and Medicare. Mr Albanese's introduced policies for a 'better future' with his stance on housing being the star of the show. The leader proposed a 'Help To Buy' scheme, which would see the government take a 40 per cent stake in up to 10,000 homes a year to help people earning less than $90,000 on to the property ladder. He also pledged to create a $10billion Housing Australia Future Fund to build 30,000 new social and affordable housing properties in its first five years - making it easier for young people to get on the property ladder. The PM also pledged 50 first-aid clinics across the country if he wins the election which will treat non life threatening injuries such as broken bones, minor burns, cuts and animal stings and will be open every day between 8am to 10pm. He has also promised to spend $750 million over four years to improve access to GPs including outside business hours. Republican Anthony Albanese (Pictured) has triumphed at the Australian election after he vowed to tackle the cost of living crisis with more public spending There were jubilant scenes at Labor headquarters in Sydney today after the party won for only the fourth time since World War II Albanese will become the 31st Prime Minister of Australia by ending the Coalition's nine years in power in a bloodbath for Scott Morrison Albanese has long been a republican who believes the Queen should not be head of state in Australia and previously said the country should hold a national vote on becoming a republic in 2018 Nationally there was a two-party swing of 2.3 per cent from Liberal to Labor with eight Coalition seats looking set to switch to the ALP, including Chisholm and Higgins in Melbourne, Boothby in South Australia, Reid in Sydney and Robertson on the NSW Central Coast. There was also a massive swing against the Liberals in Western Australia with the seats of Swan, Pearce, Hasluck and Tangney turning red. The independents also won at least three Liberal seats, picking up North Sydney, Mackellar and Goldstein. The Greens won the Brisbane seat of Ryan from the Liberals, with a two per cent boost in their national vote to 12 per cent. Pictured: Scott Morrison (right) and Jenny Morrison (middle) hug their children after voting at Lilli Pilli Public school in the seat of Cook on Saturday Labor supporters reacts as they watch the television broadcast during the Labor Party election night event in Sydney Albanese's win comes after Labor pledged to spend an extra £4.1billion compared to the Coalition over the next four years if it wins power on Saturday Over the next four years, Labor's deficits would add up to £130.8billon, roughly £2.3bn higher than Scott Morrison's March budget forecast. Both major parties will take Australia's debt over £1trillion for the first time ever by 2024. Shadow Treasurer Jim Chalmers said the difference between the parties was 'modest' and said Labor's investments would deliver returns down the track. 'The modest $7.4billion difference between the two budgets is made up of key investments in childcare, investments in training and education, and investments in cleaner and cheaper energy,' he said. Scott Morrison said $7.4billion (£4.1billion) was 'a lot of money'. 'Labor borrowing more, spending more, it puts pressure on interest rates. It puts pressure on inflation. It drives up the cost of living,' he said. 'You can vote for the Liberal-National Party team, vote for a strong economy and avoid the risk of a weaker one under a Labor Party that can't manage money.' Labor's costing document - finally released two days before the election - shows £10.6billion in new spending offset by £6.4billion in savings. There are 13 cost-cutting measures including abolishing the regionalisation grant program. The ALP also claims it will save £225.6million by scrapping temporary protection visas and letting thousands of refugees stay permanently. Mr Morrison blasted this policy, saying it would encourage more refugees to arrive illegally by boat. 'Kevin Rudd thought that work too. And when he abolished temporary visas in August of 2008, what followed was 800 boats, 1200 lives lost and 50,000 people illegally entering Australia. The cost of that was £9.5 billion,' Mr Morrison said. 'They (Labor) an no more manage the borders than they can manage money.' The ALP's costings do not account for another £29billion in off-budget spending. This includes £5.6billion on social housing, £8billion on manufacturing and $20billion on upgrading the electricity grid. Anthony Albanese said the extra spending would not stoke inflation - which hit 5.1 per cent in April. 'What it will do is produce a return. It produces economic activity,' he said. All rights reserved for this news site (dailymail) and under his responsibility