Housing showdown: Chalmers on budget defence as Liberals warn of market crash
Australian Treasurer Jim Chalmers is defending government tax reforms amid a downturn in the housing market, arguing that price drops are temporary and influenced by multiple economic factors. The opposition has criticized the government, claiming these policies are exacerbating housing affordability issues.
Why it matters
The debate reflects the tension between government fiscal policy and the volatile housing market, which is a central concern for Australian voters and the national economy.
Save You have reached your maximum number of saved items.
Remove items from your saved list to add more.
Share A A A Treasurer Jim Chalmers has defended the government’s changes to negative gearing and the capital gains tax discount after admitting the budget overhaul is contributing to the fall in housing prices, insisting the downturn is temporary and will resolve over time.
After Chalmers fronted a tense press conference in Canberra on Wednesday, Shadow Treasurer Tim Wilson once again accused the government of stoking inflation to raise taxes as the big banks and the Reserve Bank prepare to face a parliamentary inquiry into intergenerational housing inequity.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in