Simon Kennedy (Cook, Liberal Party, Shadow Assistant Minister to the Leader of the Opposition) Share this | Hansard source

This budget declares the intergenerational war over. It was a massacre, and the boomers won. This is the highest-taxing budget in Australia's history. The next generation will be the poorest ever in Australian history. Why? Because of the bracket creep tax. Young people now pay a higher share of income than I did. Because of Labor, young people pay a higher capital tax than I ever did. And, because of Labor, young people will be subsidising me negatively gearing my properties. That is what this Labor government has done. They have ripped the ladders of opportunity away from young people and entrenched it in the older generation, and they have had the temerity to gaslight younger people and say, 'This is going to solve intergenerational inequity.' If this is such a good idea, Australians should ask themselves this question: Why, just 12 months ago, did the Labor government need to lie about it? Why did they stand up in front of an election, look the Australian people in the eye and lie about changing capital or negative gearing? It will rip hope and opportunity away from young people and entrench it in older generations. We are for providing those ladders of opportunity to young people, the same ladders their parents had.

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