Will Albo back down on CGT hike?
The PM can't explain how raising tax on shares helps housing affordability.
Prime Minister Anthony Albanese and Treasurer Jim Chalmers appear relatively unruffled by the howls billowing from Australia's small business and investor legions following last Tuesday's bombshell Budget changes to capital gains tax.
Of course, the government absorbed almost five months of intense blowback last year against its proposed changes to the taxation of high-balance superannuation accounts before caving to public pressure. Albanese forfeited even more public trust before dropping his resistance to a royal commission into antisemitism.
Chalmers introduced the legislation for those superannuation changes to the House of Representatives way back in November 2023, but the political geniuses in the Liberal Party decided to kick up a stink about it only after Albo had cruised to election victory in May 2025. If anything, the Liberals' strategic faculties have deteriorated further since then.
