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

My question is to the Prime Minister. The Prime Minister has confirmed he has used negative gearing and the CGT discount, and the Prime Minister, I note, has bought a $4.8 million property in Copacabana. Why is the Prime Minister stopping the next generation of Australians from using the very opportunities he has personally benefited from?

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

I thank the member for his question, and I remind him and others that, when people in the front here hand you a question, you don't have to ask it. But so be it. What we are doing is precisely the opposite of the suggestion which he put forward. I have had access to homeownership, and I had it in my 20s, and I had it because my mother, who lived in the one public house her whole life, used to say to me, 'When you get a chance in life, own your own home.' It was drilled into me. It's the aspiration that's drilled into working-class people, who want the next generation to be better off than they are. And that is precisely what we are doing here.

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! Members on my left—

The Leader of the Opposition and the member for Groom! This is completely unacceptable!

Government members interjecting—

Members on my right aren't helping the situation either. I want there to be some respect and dignity back in the House.

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

I'm proud that I wasn't born to rule. I'm proud that I work hard. I'm proud of what I've achieved. And that is why I want other young—

Honourable members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Leader of the Opposition, and the minister for infrastructure and the minister for environment—if the three of you continue in such way, I'll be left with no other choice but to take action. And that is the last thing I wish to do. Show some restraint.

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

And that is why, in last night's budget, we made sure that we do not want to leave a generation behind. We are not prepared to sit here, and know that, increasingly, young people are being priced out of the market, and to say, 'It's too hard to make this change; we'll just occupy the space.'

But the other thing that we are doing is making sure that people can still negatively gear properties and that they can, as well, apply the 50 per cent capital gains discount, if they wish. The difference is: they will buy a new home rather than an existing one, which means that not only are they helping their aspiration; they're helping the aspiration of the country as well, going forward.

Our idea of helping young people is to do something practical that will help them get ahead. Their idea of the future and young people is having a ballot between Tony Abbott and Alexander Downer over who will be the next leader of the Liberal Party! They are reduced to a farce.

Honourable members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister has concluded his answer.

Government members interjecting—

Order! The members on my right can begin silent—

Honourable members interjecting—

Order! I'd like to hear from the honourable member for Bendigo.