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Albanese's plan to 'unleash the private sector'
(www.crikey.com.au)
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The drift started post Whitlam but that movement is the result of voters. A more recent example, Labor lost to ScMo of all people, so they drifted further and we've ended up with yet another second rate Labor Government.
The only way to move Labour back is for voters to force the issue and Vote Green to shift the Overton Window, that seems very unlikely.
We really haven't changed much since Horne's iconic and ironic The Lucky Country,
https://en.m.wikipedia.org/wiki/The_Lucky_Country