Opened the debate
Willcox argued that the government had introduced a high-tax budget containing $77 billion in new taxes, which he claimed was the highest in history. Willcox stated that the government broke promises by changing capital gains tax, negative gearing, and trust rules, thereby hindering young people's ability to save for housing deposits. Willcox contended that removing negative gearing would increase rental costs and that capping veteran allied health benefits at $5,000 was insufficient for those who served the country. Willcox also criticised the five per cent deposit scheme for potentially causing negative equity and claimed the government had introduced a widow tax and reduced private health insurance rebates for over-65s.