Australia politics live: Anthony Albanese says tax reforms ‘make system fairer’ and backs Paul Hogan on Pauline Hanson

Lead

Prime Minister Anthony Albanese has defended the government's housing reforms, including changes to capital gains tax, arguing they are designed to make the system fairer for younger Australians. His comments come after auction clearance rates in Sydney and Melbourne hit their lowest levels since 2020 and 2021 respectively, as reported by ABC Australia.

Coverage Comparison

Both ABC Australia and The Guardian — World covered the Prime Minister's appearance on ABC's 7.30 program on Monday evening. The Guardian emphasized the reforms' aim to reduce "intergenerational inequity," while ABC's coverage focused on Albanese's defense of the budget changes amid investor concerns. Both sources noted that auction clearance rates fell below 50% in most major capital cities in the wake of the reforms.

Key Claims

The Prime Minister acknowledged that "everyone has recognized that the housing system is broken," and argued that the government needed to act. He specifically pointed to Treasury estimates indicating house prices will continue to rise, but by a smaller margin than would have occurred without the changes. "The Treasury estimates are that house prices will continue to increase, but they'll increase by a lesser amount than they would have otherwise with these changes," Mr Albanese said on 7.30.

However, major banks have painted a different picture. Commonwealth Bank has forecast house prices to be flat throughout 2026, while NAB has predicted a two per cent drop across major capital cities, as reported by ABC Australia. The Guardian noted that "major banks" expect prices to remain flat or fall marginally through 2026.

The government's reforms include changes to capital gains tax, which have sparked concern among investors and homeowners worried about property values. Mr. Albanese rejected these concerns, arguing that the recent auction results were encouraging for homebuyers.

"What is important is that last Saturday, when people went to buy their own home, if it was an existing property, they weren't competing against investors who knew that if they could bid an extra $20,000 or $50,000," he said, as quoted by ABC Australia. The Prime Minister also noted that negative gearing remains available for new builds, aimed at boosting supply.

He highlighted that house prices have increased 400% since 1999, more than double the rise in wages. "That's why we couldn't continue to sit back and not pursue this reform," he said, according to The Guardian. He also expressed his desire not to live in a society defined by "intergenerational inequity," as reported by The Guardian.

Elsewhere in politics, ABC Australia reported that Opposition Leader Angus Taylor and Shadow Minister Andrew Hastie have made comments on multiculturalism that have caused controversy, though details of their remarks were not provided in the available material. The same source noted that Pauline Hanson's party has topped opinion polls and secured a lower house seat.