The Coalition will repeal changes to negative gearing and the capital gains tax discount if it is elected, Opposition Leader Angus Taylor says.
“Our position is we’re going to do everything we can to stop these bad taxes, toxic taxes, from getting through the parliament. This is a budget of broken promises and higher taxes and less houses and lower standard of living, and we don’t want these taxes to get through because they are a tax on aspiration, a war on aspiration. They’re not going to solve any intergenerational problem,” Taylor told Sky News this morning.
Opposition Leader Angus Taylor during a television interview after the budget. Alex Ellinghausen
“We’ve seen a reduction in the number of houses getting built in this country despite billions of dollars of expenditure … there’s no shortage of areas where this government is spending and shouldn’t be spending, but because it’s spending this money, it’s whacking Australians with more taxes … when the government runs out of money, it comes after yours. And that is exactly what’s going on here,” Taylor said.
Taylor described the government’s budget as “a complete intergenerational fraud”, accusing Labor of pitting older and younger generations against each other while attempting to tax Australians more.
“Australians don’t want that kind of division. They don’t believe in it. We saw that during the Voice [to parliament referendum]. Labor thinks the answer to things is to divide Australians. Well, I think it’s to unite them,” Taylor said.
Taylor said the Coalition would bring policies to the next election that attracted young voters, referencing plans to cut immigration which he said would bring down the cost of housing.