The Prime Minister is ruling out future changes to housing tax breaks if he wins the election, arguing it would do nothing to boost supply. Anthony Albanese has touched down in Tasmania for a Labor rally, a state where he's hoping to pick up a seat at this election.
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00:00Both parties fully acknowledge that we have a housing crisis, that it's becoming more
00:06and more difficult for young Australians to break into the market and so at this election
00:10both major parties have very different policies they're putting forward that they say will
00:14make it easier for first home buyers to get onto the property ladder.
00:19Now from the Labor perspective that's a pledge to build 100,000 homes, apartments specifically
00:25for first home buyers and also to make it easier for young Australians to save for a deposit
00:30by allowing them to basically get a mortgage with just a 5% by saving up just a 5% deposit.
00:36But what hasn't been talked about are policies that Labor has taken to previous elections
00:39and that is to curb negative gearing and capital gains tax.
00:43These are tax breaks that are seen to benefit property investors and at previous elections
00:48Labor has argued that they would change these tax breaks to level the playing field for first
00:53home buyers when they go to an auction with a property investor.
00:57But Prime Minister Anthony Albanese has been asked about this today and not only will this
01:01not be taken to this election, but the Prime Minister appears to be ruling out future changes
01:06to capital gains tax and to negative gearing too.
01:09Here's what he had to say.
01:11In 2022, as I've said today, there was a campaign run suggesting we were going to make changes.
01:20The proof's in the pudding. Proof is in what you do, not what you say you will do.
01:25The proof is we haven't made any changes. I think that the key when it comes to housing
01:30policy is supply. Supply, more supply and even more supply.
01:36Jane, the Prime Minister is in Tasmania now. What's he doing there?
01:41Well, just a few moments ago, he was actually on the barbecue cooking some snags for the
01:47Labor volunteers, Labor MPs and candidates who are at this barbecue. We're in the ultra
01:52marginal liberal held seat of Bass. But what's interesting about Tasmania is that there are
01:57three seats that are all marginal and tends to swing from one party to another at each election.
02:04So Labor's clearly hoping that, you know, this might be a seat that goes its way come next
02:08Saturday. But as voters start to really weigh up the options that are being put forward between
02:13the two parties, we're also seeing Anthony Albanese really sharpen the contrast between the offer
02:18that his government is putting on the table this election compared to that of the Dutton-led
02:23coalition. Let's take a listen to his analogy that he offered a little earlier.
02:27It's like one of those mystery tours that the airlines used to do in the 1980s, where you
02:33turn up at the airport, you buy a ticket, but you don't know where you're going.
02:37Well, I say to Australians on May 3, make sure you know where the destination is, because
02:45it is destination chaos and destination shambles and destination cuts from Peter Dutton, if he's
02:53successful, next Saturday.
02:55Well, here on the campaign trail, we often don't know where the destination is. However,
03:01we know that we started a day in Melbourne. The Prime Minister in the Labor-held seat of Chisholm
03:06announcing some funding for community language schools. As for our next stop, well, it's Destination
03:13and unknown.