🚨 The absolute peak hypocrisy of this Labor government just got exposed in their own Budget papers.
@peaceitw nailed it: The worst thing isn’t even the disastrous policy — it’s Albo and Jim still lying every single day claiming these tax changes are “for housing” while Treasury admits they’ll deliver 35,000 FEWER homes over the next decade.
1/ Labor spent the election cycle swearing black and blue: “No changes to negative gearing. No changes to CGT.”
Then Budget night hits and they ram through exactly that — limiting negative gearing to new builds only (grandfathered for their mates with existing portfolios, naturally) and gutting the CGT discount.
Chalmers stands up and calls it a bold plan to “level the playing field” and fix housing affordability.
Meanwhile, page after page in the official Treasury modelling quietly drops the bomb: these changes will reduce new housing supply by 35,000 dwellings. Not a rounding error. Thirty-five thousand homes that won’t get built because investors get hammered on established properties. 
2/ Their spin? “Oh but we’re offsetting it with other stuff and moving 75,000 properties from investors to owner-occupiers!”
Translation: We’re punishing people who provide rental housing today, slowing construction, and hoping some government infrastructure spending magically fills the gap. Classic Labor — create a problem with taxes, then spend more taxpayer money to “fix” the problem they just made worse.
Result? Higher rents coming (Treasury basically admits it), strangled supply when Australia desperately needs more homes, and young people still locked out while boomer landlords with existing holdings laugh all the way to the bank.
3/ This is what happens when ideology collides with reality. Labor hates successful investors and aspiration so much they’d rather build fewer houses than let the market work.
They broke their promises, lied about it pre-election, and are lying about the consequences now. The media largely gives them a free pass instead of hammering the obvious question: “Treasurer, your own numbers say fewer homes — how is this ‘for housing’?”
Gutless.
4/ Australia doesn’t have a housing crisis because there aren’t enough taxes on property investors.
We have one because of chronic under-supply caused by planning red tape, migration overload, and now this — economic vandalism dressed up as compassion.
Albo and Chalmers aren’t fixing anything. They’re entrenching the intergenerational wealth divide they pretend to hate, all while virtue-signaling about fairness.
Voters are seeing through the spin. This budget is already polling like a corpse for a reason.
Time to hold these clowns accountable.
#LaborLies #BudgetFail #HousingCrisis #AusPol #ChalmersFail