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The opposition Australian Labour Party, currently led by Kevin Rudd, will be the main challenger to the incumbent Coalition government, currently led by the Prime Minister and Leader of the Liberal Party, John Howard, and his Coalition partner the Deputy Prime Minister and Leader of the National Party, Mark Vaile.
The monarch of the U.K., i.e., currently Queen Elizabeth II, is also considered the nominal head of Australia, though, as in U.K, the queen does not hold any official powers and her role is merely titular. At the national level, the representative of the U.K. monarch is the governor-general, while the representative of the monarch in each state of Australia is the governor. While the governor-general has executive powers, the person on whose advice these powers are executed is the Prime Minister.
So from this, it is clear that there is no President of Australia. The closest figurative head holding a position akin to that of the President is the monarch of U.K. whose representative in Australia is the governor-general.
In addition to the position of prime minister, Australia also has a Governor General, like other British Commonwealth countries. The Governor General is a purely symbolic role and the person filling this office represents Queen Elizabeth II and the British Monarchy in Australia. Major-General Philip Michael Jeffery (b. 1937) is Australia's current Governor General and he assumed office in 2003.
Australia's Head of State is, officially, Queen Elizabeth II. There are some, however, who support republicanism. If Australia were to ever transform into a republic, it would likely replace the Governor General with a President.
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