Thanks for reading our national news blog for today, May 13, which was dominated by the post-budget back and forth. This is where we’ll end the live coverage.
Here’s some of what we covered today:
- Prime Minister Anthony Albanese has refused to say whether he would have won a 94-seat majority at the last election had he brought a policy of altering negative gearing and the capital gains tax discount to the May 2025 poll, as included in yesterday’s budget.
- Albanese also defended his use of negative gearing to buy a NSW Central Coast property, after the opposition linked the $4.3 million purchase to the limits placed on future buyers.
- Opposition Leader Angus Taylor said the Coalition would repeal changes to negative gearing and the capital gains tax discount if elected. “Our position is we’re going to do everything we can to stop these bad taxes, toxic taxes, from getting through the parliament,” he said.
- Jim Chalmers said he was confident in the government’s ability to deliver the budget savings promised, which are needed to maintain the budget bottom line. Asked whether he accepted that heavily banking on prospective cuts to the NDIS – details of which are still under negotiation with the states and territories and based on a historic overhaul to disability supports – was risky, the treasurer said it was “difficult but doable”.
We will also continue our rolling coverage tomorrow morning with the latest updates and discussions.
