Prime Minister Anthony Albanese has recorded his first net-positive approval rating since 2023, with the governing Labor Party rising to its strongest electoral position in two years, the latest Newspoll shows. Support for Opposition Leader Sussan Ley slipped in the same survey, widening the gap between the major parties ahead of a crucial policy roundtable in Canberra this week. The poll also finds Australians more alarmed by the economic fallout from Washington’s 145% tariff on Chinese imports than by China’s expanding military presence in the region. The result underscores the extent to which voters are prioritising cost-of-living and trade risks over traditional security concerns. Fiscal policy looms large over the government’s three-day summit. Economists caution that Labor could move to wind back tax concessions for high-income earners, while the Productivity Commission will argue that an economy-wide carbon price and a contentious cash-flow levy are the most efficient ways to lift flagging productivity. The Coalition has criticised Labor’s record on productivity but has not ruled out supporting a carbon tax if it demonstrably boosts growth.