by STEVEN TRIPP – ANTHONY Albanese is increasing viewed as a dishonest prime minister and public anger has been swift.
Australians have now donated more than $5m in support of a campaign to remove him.
- Public anger to the budget has been swift.
- One Nation’s “Fire the Liar” campaign highlighted Albanese’s deceit.
- More than $5m in donations were raised in response.
“We have no plans to touch or change negative gearing,” the Prime Minister told Sky News seven months before the 2025 Federal election.
The host was sceptical of the response as Mr Albanese had already backflipped on changing the Stage Three tax cuts.
MAN OF MY WORD
Alarmingly, prior to that backflip, the Prime Minister declared, “I’ve always been a man of my word… People are entitled to have that certainty of the tax cuts that have been legislated and we won’t be changing them”.
Of course, politicians are entitled to change their minds if situations change, just as John Howard did with the GST.
The difference was, Mr Howard courageously took the change to an election.
Meanwhile, when asked during the 2025 election campaign whether he would “touch capital gains tax or negative gearing”, Mr Albanese replied, “How hard is it? For the 50th time,” only to backflip post-election.
The budget backflip has delivered significant changes to negative gearing and the capital gains tax discount.
These measures limit negative gearing on residential property to new builds from 2027-28 (with grandfathering for existing investments).
Labor has also replaced the 50 per cent CGT discount with inflation-adjusted indexation, plus a 30 per cent minimum tax rate on gains from mid-2027.
Labor argues this will redirect investor capital toward new housing supply and help first-home buyers.
Critics, however, view this as another breach of trust, which is becoming a theme of the Albanese Government.
Compounding these perceptions of deceit was Labor’s post-budget deal struck with the Greens, which is a clear attack on aspirational Aussies.
In exchange for support in the Senate, Labor has agreed to the banning of Self-Managed Superannuation Funds (SMSFs) from using Limited Recourse Borrowing Arrangements (LRBAs) to purchase residential property.
Therefore, Australians can no longer use SMSF provisions to purchase residential property, but foreign buyers remain able to purchase these properties without equivalent restrictions.
The need to horse-trade with the Greens in the Senate for key budget legislation has fuelled accusations of inconsistency and weakness, especially since Mr Albanese declared ahead of the election, “There’ll be no deals with the Greens. I want a majority Labor government”, when asked if he would form a Labor/Greens coalition.
Public anger to the budget has been swift.
One Nation’s “Fire the Liar” campaign, highlighting Albanese’s deceit, has raised millions in donations.
Speaking on the success of the campaign, One Nation leader Pauline Hanson said, “Fire the liar and that’s what people see him as – a liar.”PC
