Jessica Collins (NSW, Liberal Party) Share this | Hansard source

We are in the land of broken promises. Last night Prime Minister Anthony Albanese broke some very serious contracts with the Australian people, but this is a man very comfortable with breaking promises. First it was $275 off your power bill. We all know that was a dismal failure an absolute lie. Last year the PM told us emphatically, 'The only tax policy we are implementing is the one we took to the election.' He said changes to capital gains tax and negative gearing were off the table, and in his own words he said that at least 50 times. Still, last night Anthony Albanese and his Treasurer Jim Chalmers dropped their new taxes on housing. They axed negative gearing, they increased capital gains tax and they made a new tax on discretionary trusts. It is absolutely crystal clear to the Australian people that Anthony Albanese has run out of money and he's coming after yours.

But that's not the most egregious bit of all. While the good people of Australia bear the brunt of this cheap money grab, foreign residents disposing of renewables get a CGT exemption until 2030. Anthony Albanese's net zero obsession has come at a cost to Australian people, because guess how much that is going to cost the rest of us taxpayers—$425 million. It's absolutely outrageous, Labor. You are—