AAP News
Source: AAP
Not enough has been done to help younger generations enter the housing market since Labor was re-elected last year, the prime minister has admitted ahead of the federal budget.
As Treasurer Jim Chalmers prepares to hand down his fifth budget on Tuesday, the government is widely tipped to enact changes to negative gearing, capital gains taxes and family trusts.
Despite ruling out such changes before the 2025 federal election, Prime Minister Anthony Albanese said reform was needed make it easier for young people to enter the housing market.
“We do need to do more, and use every lever at our disposal,” he told ABC Radio on Monday.
“(Young people) continue to be entrenched without reform, for a long period of time, young people have tried to save for a home.
Another year has passed since the election and not enough has changed.
“If we do change our position on any policy, we will explain why it is that that is occurring.”
Mr Albanese said delivering just promises taken to the election was not the limit of ambition for the government.
“We know people are under pressure, and the easy path is to say ‘oh well, we’ll just sit back and watch that occur’,” he said.
“The difficult decision, but the right decision, is to do the right thing with the right policies to deliver, and clearly, people are frustrated.”
It comes as the government will offer more money to states and territories as it tries to secure agreement over landmark environmental reforms, but one premier is vowing not to make it easy.
