Generation X? The federal budget is coming for you
5/6/202634 min
Phillip Coorey on the first year of the Albanese’s government’s second term, what’s happening with property taxes and how the biggest loser in the budget will be Gen X.
This podcast is sponsored by Westpac
Further reading:
Prime minister arrests popularity decline, One Nation plateaus: poll
Anthony Albanese’s handling of the petrol crisis has improved his personal ratings and is helping to prop up Labor’s vote.
Anthony Albanese sees the populist writing on the wall
As Labor prepares for a Hastie-led opposition, the PM is ready to break promises so Labor can court younger voters and save it from the parties of grievance
CGT change to tax existing investments based on length of ownership
The Albanese government plans to transition investors to a new capital gains tax regime through a hybrid grandfathering system.
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Clips
Transcript preview
First 90 secondsLisa Murray· Host0:00
[upbeat music] The Australian Financial Review. [pensive music] A year ago, Labor won the federal election in a landslide.
Anthony Albanese· Soundbite0:14
Labor's election victory was so emphatic. Anthony Albanese emerges from the contest as an enhanced prime minister. This is, uh, an historic Labor moment.
Lisa Murray· Host0:24
But since then, everything has changed.
Anthony Albanese· Soundbite0:27
Good evening. We have breaking news of a major situation unfolding at Bondi Beach this evening. One Nation continues to surge ahead in the polls. War with Iran is entering a dangerous new phase.
Lisa Murray· Host0:37
Financial Review political editor Philip Coorey spoke with Prime Minister Anthony Albanese to mark the anniversary.
Philip Coorey· Guest0:45
I, I, I guess I just wanna start with, um, like a lot's happened in a year politically.
Lisa Murray· Host0:49
He asked him about the rise of One Nation, the impact of the Iran war on the economy, and what will be the focus in next week's federal budget.
Anthony Albanese· Soundbite0:59
The needs of younger generations weren't given the proper focus that it should, and if you're about creating a better future, then those needs have to be looked after, that sense of opportunity.
Lisa Murray· Host1:14
While the Prime Minister was keen to focus on the young, Coorey says there is one generation that's set to miss out.
Philip Coorey· Guest1:21
It's the Gen Xers who, who are overlooked here. Their opportunity to retire are hamstrung because they have to look after their kids who can't afford to get a start, and they're