The Australian Labor Party is a major centre-left political party in Australia. The party has been in opposition at the federal level since the 2013 election. The party is a federal party with branches in each state and territory. Labor is in government in the states of Victoria, Queensland, Western Australia, and in both the Australian Capital Territory and Northern Territory. The party competes against the Liberal/National Coalition for political office at the federal and state (and sometimes local) levels. It is the oldest political party in Australia. Labor’s constitution has long stated: "The Australian Labor Party is a democratic socialist party and has the objective of the democratic socialisation of industry, production, distribution and exchange, to the extent necessary to eliminate exploitation and other anti-social features in these fields". This "socialist objective" was introduced in 1921, but was later qualified by two further objectives: "maintenance of and support for a competitive non-monopolistic private sector" and "the right to own private property". Labor governments have not attempted the "democratic socialisation" of any industry since the 1940s, when the Chifley Government failed to nationalise the private banks, and in fact have privatised several industries such as aviation and banking. Labor’s current National Platform describes the party as "a modern social democratic party". The ALP was not founded as a federal party until after the first sitting of the Australian Parliament in 1901. Nevertheless, it is regarded as descended from labour parties founded in the various Australian colonies by the emerging labour movement in Australia, formally beginning in 1891. Labor is thus the country’s oldest political party. Colonial labour parties contested seats from 1891, and federal seats following Federation at the 1901 federal election. The ALP formed the world’s first Labour Party government, as well as the world’s first social democratic government at a national level. Labor was the first party in Australia to win a majority in either house of the Australian Parliament, at the 1910 federal election. The Australian Labor Party at both a federal and state/colony level predates, among others, both the British Labour Party and the New Zealand Labour Party in party formation, government, and policy implementation. Internationally, the ALP is a member of the Progressive Alliance network of social-democratic parties, having previously been a member of the Socialist International.