Labor’s Attack on Aspiration

Labor’s Attack on Aspiration

Australians were promised relief in this Budget. Instead, Labor has delivered higher taxes, more debt and a direct assault on aspiration.

What makes this worse is that Australians have been lied to by the Prime Minister.

Before the election, Anthony Albanese promised more than 50 times there would be no changes to negative gearing or capital gains tax. Yet Labor has now handed down a Budget based on breaking those promises.

This Budget confirms Anthony Albanese leads the highest taxing government in Australia’s history and says whatever is politically convenient at the time.

Australians were misled on power prices, migration and the cost of living. Now they have been misled on property taxes as well.

For Australians in regional communities like Barker, these are not theoretical economic debates. These policies strike directly at families trying to build wealth, invest for retirement, grow small businesses and create opportunities for their children.

Labor’s attacks on discretionary trusts are another example. In regional Australia, trusts are used by family farms and small businesses to manage risk and succession. They are not loopholes for the wealthy but part of the engine room of regional economies.

At the same time, Labor’s housing taxes will mean 35,000 fewer homes built over the next decade while rents continue to rise for Australians already struggling to find a place to live.

Younger Australians already facing the prospect of never owning a home are now being hit again. Instead of helping them get ahead, Labor is making it harder to save, invest and build financial security. The ladder of opportunity that previous generations benefited from is being pulled up behind them.

This is not reform. It is intergenerational fraud.

The Coalition will fight these changes in opposition and reverse them in government.

The Coalition is offering a different path which is aimed at restoring living standards, rewarding hard work and putting Australians first. Our plan includes ending bracket creep, linking migration to housing supply, boosting small business investment and strengthening Australia’s economic and national security.

Australians deserve a government that rewards aspiration, backs investment and restores the dream of home ownership, not one that punishes Australians for trying to get ahead.