The prime minister will kick off the three-day national conference on Thursday, with thousands of the party faithful converging on Adelaide to determine Labor's policies and position on key issues.
In his address, Mr Albanese will announce 10 more areas of study in health professions will be eligible for payments of $338.60 a week for students doing practical placements
From July 2027, the payments will be extended for physiotherapy, clinical psychology, speech pathology, paramedics, audiology, pharmacy and podiatry.
The key gathering, held about once every three years, comes as the government seeks to fend off a challenge from Pauline Hanson's One Nation, which has recorded surging support during 2026 among voters disillusioned with the major parties.
Treasurer Jim Chalmers said the government didn't lightly dismiss the challenge posed by the populist party.
"It is the case that we've got a strong majority in the House of Representatives, but politics is volatile," he told ABC's Radio National on Thursday.
"At a time when we do have these intensifying pressures ... we understand that creates some legitimate anxiety about what the future holds for people, and sometimes that encourages people to consider political alternatives."
Dr Chalmers said Australia faced serious economic challenges and was dealing with intensifying global pressures against the backdrop of "very substantial generational challenges".
The issue of taxing gas is set to come up on the conference's first day, but Dr Chalmers pointed to changes Labor already had made to the petroleum resource rent tax.
"The government has taken important steps to make the taxation of natural resources fairer, and we are focused on a number of things, including our international responsibilities," he said.
The prime minister also played down the prospect of a new gas export tax in the near future.
"What my party understands is a priority of Australians is making sure that we have fuel security at this point in time," Mr Albanese told ABC Radio ahead of the conference's launch.
"Our priority has been fuel security. We have managed to do that."
The announcement of the extension of the practical placement payments is expected to be welcomed in the health industry, as previously they were only available to those studying to be nurses and midwives, teachers and social workers.
"We are investing right across our world-class health system, and we are backing the extraordinary people who work in it," the prime minister will tell the conference.
"This is one of those reforms where it is hard to believe that it didn't already exist."
While the 50th Labor conference is not expected to be confrontational, several policy issues will be on the agenda for debate.
Attendees at the conference will agree on party positions, but it will be up to Labor's parliamentary team to determine how, and when, the measures are implemented.
Mr Albanese says Labor is facing global challenges, but problem-solving needs to be implemented outside the triennial party forum.
The prime minister will say frustrations voters have with the political system need to be listened to and followed up.
"People's genuine frustrations deserve a practical response, not just an emotional one," he will say.
"You can go a long way in politics, for a long time, by raging against a system that you are part of, without a plan to fix it ... that doesn't build anything.
"It doesn't take our country forward. It doesn't help anyone find a job, pay their bills or put a roof over their head."
Debate on day one of the conference will centre on economic issues, led by Dr Chalmers, followed by energy and climate issues, headed up by Energy Minister Chris Bowen.
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