Australia's Treasurer has made a shocking admission about the country's housing market, labeling it "not working" and suggesting that the tax system surrounding it is fundamentally flawed. In a stark contrast to the government's previous housing policies, the Treasurer's comments have sparked a heated debate about the best way to address the nation's affordability crisis. Shadow Finance Minister Claire Chandler has seized on the opportunity, urging the government to focus on building more houses rather than imposing taxes that could stifle development. With the Federal Budget 2026 just around the corner, the government's housing plans are under intense scrutiny, and it remains to be seen how they will respond to the Treasurer's candid assessment of the situation.
Treasurer says housing market ‘isn’t working’ and tax system around it is ‘out of whack’. Follow the latest updatesFederal budget 2026: what we know so farSee all our Australia budget 2026 coverageGet our breaking news email, free app or daily news podcast‘Let’s build more houses … not start taxing them’, shadow finance minister saysClaire Chandler, the shadow minister for finance, spoke a moment ago.You don’t make more of something by increasing taxes on it. Taxes are inherently a disincentive to create more of something.If we need more houses in this country, let’s build more houses. Let’s not start taxing them.It’s all of our housing programs, 5% deposit, the Housing Australia Future Fund, the partnership we’ve had with the states and territories, the announcement made … on the weekend or yet around enabling infrastructure, $2bn to do the kind of the back end of housing development, all the connections and all of that kind of thing that state and territory and local government struggle with.I think there is a lot of understanding across the community about governments needing to respond to try and make housing more affordable.This isn’t about generation versus generation. Continue reading...
