Sam Birrell (Nicholls, National Party, Shadow Assistant Minister for Regional Health) Share this | Hansard source

Tuesday's Labor budget is a failure and a breach of trust on so many levels. There are two questions about the big changes—negative gearing and capital gains tax. Question 1: is it the right policy change? Question 2: is this the right way to make such significant changes?

Question 2 first—John Howard decided Australia needed a goods and services tax. He had the courage and decency to take this policy to the election. In 2019, Bill Shorten wanted to make changes to CGT and negative gearing. He had the courage and decency to take it to an election. Courage and decency are in short supply in this Albanese government. In many interviews, they say, 'We are being upfront,' but the time to be upfront is before people cast their ballot. They say, 'Our thinking has evolved, so we changed.' I call nonsense on that. They always wanted it. They just didn't have the courage and decency to put it to the Australian people. Was it the right policy change? No, it's higher taxes dressed up as intergenerational fairness. It won't make it easier for young people to buy their first home. Their own documents say fewer homes will be built. Labor's spending spree threatens to keep inflation high and interest rates rising, and young people's deposit savings are now being taxed more. That is the real barrier to young people getting into the housing market.

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