Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for her question. We want Aaron and his family to have a roof over their head. Aaron is 39 years old, so the chances are Aaron's been in the workforce for 20 years but has been unable to secure his own roof over his head. It is precisely because of the circumstances of people like Aaron that we want them to aspire and get ahead—not aspiration for some but aspiration for all. That's what we on this side of the chamber stand for.

Let me say this: someone who knows something about housing, a fellow called Harry Triguboff, last weekend identified positive proposed changes to the capital gains tax and negative gearing for brand new properties:

Buyers are pivoting from the share market back into property and this is a direct result of the budget. Brand-new apartments are now top of the list for investors—

So what is happening? What is happening is precisely what these reforms are aimed at. If you want to get ahead, you can still invest in negative gearing. You can still get a 50 per cent capital gains tax discount. But, as well as building your own assets and your own wealth, you'll be building the assets and the wealth of the nation. That is precisely what it's about.

Meanwhile, Aaron, who's been in the workforce for 20 years—if Aaron goes to the auction next Saturday, he won't be standing there competing against someone who is, because they are an investor, going for their 10th house or their 12th house. If they have to go that extra 20 kay or $50,000 in order to win at the auction, you know why they can do that? Because all the taxpayers, including Aaron, are paying for the benefit to them. That's why they can do it. Instead of that, as a first home buyer, which Aaron will be, he has a real shot. We're about helping people like Aaron. You're about keeping them down.

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