Opened the debate
Pocock argued that the housing crisis was worsened by Labor's decision to allocate $53 billion for tax benefits for affluent property investors over four years. Pocock claimed this approach prioritised multiple-property owners over renters and mortgage holders, with projections indicating a further $190 billion in wasted revenue over the next decade if reforms were delayed. The senator contended that the five per cent deposit scheme increased demand and made auctions more difficult for first-home buyers, while the Housing Australia Future Fund was too small, slow, and complicated. Pocock advocated for abolishing the capital gains tax discount and negative gearing to redirect funds toward building public and affordable housing. Pocock described these tax breaks as drivers of intergenerational inequality and called for progressive tax reform in the upcoming budget.