Colin Boyce (Flynn, Liberal National Party) Share this | Link to this | Hansard source

The Treasurer will hand down the government's much anticipated budget tonight, and Australians are already getting a glimpse of what's in store. Let's look at what's already been reported. The Labor government has scrapped the Inland Rail project to Queensland, despite previously claiming to support it. This is a major blow to regional communities, producers and freight operators, who are relying on the project to improve productivity and strengthen supply chains across rural and regional Australia. At the same time, the government has committed another $3.8 billion to Victorian Labor's underfunded $200 billion Melbourne Suburban Rail Loop, a project that many experts say lacks transparency and clear funding pathways.

Reports also suggest there will be changes to negative gearing and the 50 per cent capital gains tax discount for property investors, and that comes despite the Prime Minister repeatedly denying during the 2025 election campaign that Labor would alter those arrangements. Australians who have worked hard, invested responsibly and planned for their future have a right to be concerned. There are also expected to be new taxes and tighter rules on family trusts—another policy area Labor said would not be touched before the election. The old saying, 'When Labor runs out of money, they come after yours,' has never been more relevant and obvious.