House of Representatives

Answer from Anthony Albanese

The Prime Minister highlighted recent visits to housing projects, including the Housing Australia Future Fund site in Rosanna, Melbourne, and developments in Hobart and Perth. He noted that 250,000 first-home buyers had purchased properties using a five per cent deposit. He stated that reforms to negative gearing and capital gains tax were designed to improve housing supply and aspiration for younger Australians. He referenced comments from a former Liberal leader regarding young Australians' frustration with the housing market.

Answer from Jim Chalmers

The Treasurer stated the reforms aimed to facilitate first-home purchases, cut income taxes for 13 million workers, and align tax treatment between wage earners and asset holders. He highlighted the Working Australians Tax Offset as a significant increase to the effective tax-free threshold. He noted that five different tax cuts would benefit the average worker by up to $2,816 in 2028. He added that over $312 billion in new measures would lower business taxes, reducing compliance costs by more than $10 billion annually. He confirmed legislation would be introduced to implement these changes.

Answer from Jim Chalmers

The Treasurer questioned the validity of the example, suggesting the individual might be exempt or eligible for concessions. He quoted the Shadow Treasurer's past writings and parliamentary statements arguing that the current tax system favors asset holders over workers and disadvantages young Australians. He stated that the government's reforms addressed these inequities and that the Shadow Treasurer was now opposing changes he had previously advocated for.

Answer from Clare O'Neil

The Minister reported that first-home buyers were increasingly successful at auctions, citing examples from St Kilda East, Yarraville, and Ardeer. She stated that hundreds of thousands of young people would own homes by the next election due to government policies. She identified the opposition's desire to scrap the five per cent deposit program and Help to Buy scheme as the primary risk to these efforts. She argued that the opposition was defending a broken system that excluded young people from homeownership.

Answer from Chris Bowen

The Minister reported that diesel holdings were at 38 days, the highest since the minimum stock obligation began in 2023, with 43 days of diesel and 31 days of jet fuel available. He stated that one billion litres of extra stock had been added in seven weeks, underwritten by Export Finance Australia. He highlighted the budget's investment in a sovereign strategic reserve, contrasting this with the previous government's reliance on reserves held in Texas. He argued that a government-owned reserve was necessary for future security.

Answer from Anthony Albanese

The Prime Minister stated that exemptions for vulnerable people were included in the budget announcement. He criticized the opposition for using scare tactics regarding vulnerable people to gain political advantage.

Answer from Tanya Plibersek

The Minister noted the launch of a consultation on the next action plan to address evolving challenges like tech-facilitated abuse. She stated the government had invested an extra $4.4 billion in this area, including $1.2 billion for crisis housing and $218 million for First Nations communities. She highlighted increases in funding for the 500 Workers program and 1800RESPECT, as well as $80 million for children's counselling. She confirmed the introduction of 10 days paid family and domestic violence leave and legislation to prevent social security weaponization.

Answer from Anthony Albanese

The Prime Minister stated that the budget included $312 billion in support for small business. He confirmed that legislation would be introduced on Thursday, including tax cuts and frameworks for capital gains and negative gearing reforms. He noted that consultations were underway with tech companies and business groups. He referenced the Shadow Treasurer's past writings supporting tax reform to address intergenerational equity.

Answer from Richard Marles

The Minister stated that life-of-type extension work on Collins class submarines would begin later in the month. He criticized the previous government for underfunding the project with only $6 billion, contrasting it with the current $11 billion allocation. He noted that the extension would underpin around 1,400 jobs at the Osborne Naval Shipyard, contributing to 10,000 secure jobs in the facility. He described the previous planning as incompetent and misguided.

Answer from Anthony Albanese

The Prime Minister argued that the reforms helped people like the constituent aspire to homeownership. He cited developer Harry Triguboff noting that investors were pivoting to new properties due to the budget. He stated that first-home buyers would no longer compete against investors with multiple properties at auctions. He claimed the reforms allowed investors to build wealth while also contributing to national asset growth.

Answer from Tony Burke

The Minister stated that net overseas migration had fallen to 45 per cent below its peak, largely due to caps on student visas linked to accommodation. He noted that the opposition had opposed this legislation. He mentioned upcoming changes to working holiday-maker visas. He criticized the Leader of the Opposition for suggesting that migrants from liberal democracies were more worthy, citing historical contributions from migrants from fascist Europe, the USSR, and Vietnam.

Answer from Anthony Albanese

The Prime Minister pointed out that the largest corporate donation he was aware of had been made to the Greens. He stated that he had stopped fundraisers from being held in ministerial offices and the Prime Minister's office after taking office, describing this as a positive change.

Answer from Anne Aly

The Minister listed measures including faster payment times, streamlined construction codes, free TAFE, and halved fuel excise. She highlighted $3.5 billion in new budget measures, including a permanent $20,000 instant asset write-off and loss refundability for startups. She noted that regulatory costs would be cut by $10.2 billion through the 'tell us once' approach. She confirmed tax cuts for sole traders and further work on payroll tax harmonization.

Answer from Anthony Albanese; Matt Keogh; Tony Burke

The Prime Minister stated that the government had cleared a backlog of 42,000 veteran compensation claims, with claims now processed within 14 days. The Minister for Veterans' Affairs added that the budget included $169.7 million to increase allied health provider fees, with physiotherapy rates rising from $75.10 to $110 in July 2027. He explained that the $5,000 limit replaced a treatment cycle constraint, and veterans with genuine clinical need could exceed it.

Answer from Amanda Rishworth

The Minister stated that five tax cuts would benefit the average worker by up to $2,800, including a $250 Working Australians Tax Offset and a $1,000 instant deduction. She noted that the minimum award wage had increased by more than $9,000, helping 2.7 million workers. She highlighted that enterprise bargaining was driving strong wage growth, with a 9.6 per cent average rise. She criticized the opposition for voting against tax cuts and minimum wage increases.