The glaring problems with Labor’s dreadful, appalling, terrible 2026 Budget

As Alan Austin reports, few observers in the Australian media had anything positive to say about last month’s controversial Budget.

CAREFUL SEPARATION of the Treasurer’s loud denunciations. Jim Chalmers‘ The fifth budget, announced three weeks ago, reveals six basic criticisms.

1. It will cause house prices to skyrocket

Nighty‘s senior economic correspondent in Brisbane ‘9 percent growth is expected in 2026’ in house prices and its aftermath as a result of the terrible May budget ‘Slow down to a more modest 3 percent next year’.

HE requested House prices in Perth will rise 13% this year and 5% next year. Adelaide will see increases of 7% and 4%.

Professional real estate consultants Foil agree:

“We will see rents rise” [and]… prices will also increase significantly.”

2. It will cause house prices to drop catastrophically.

The second big problem with Labour’s terrible budget, and even worse, is that it has caused house prices to fall.

‘House prices could fall by up to 10% across the country in the biggest correction in 40 years.’

Accordingly Australian Financial ReviewAnticipating that the budget will change ‘Fundamentally change asset allocation decision making for Australian households’.

Commonwealth Bank shares This terrible pessimism:

‘Housing is a sentiment-driven market and changes could cause investors to withdraw and finance to become more difficult, causing house prices to fall more than expected.’

West reports that this is already happening as auction sales decline:

‘If these low clearance rates continue, history suggests property prices in both cities could fall between 5% and 10% next year.’

3. It will give an unfair advantage to older people by robbing Australia of its youth

Economist Adam Creighton at the Institute of Public Relations (IPA) allegations Budget leaves young Australians deeply disadvantaged:

‘Far from being a good budget for young people, this is a terrible budget for young people.’

Creighton said Sky News:

‘Taxes are rising everywhere; even then it can’t keep up with expenses. I mean, that’s the real generational issue.’

According to an economist Australian Financial Review:

‘Young Australians are being asked to accept higher taxes on the labor and investment they can access, while older groups and property wealth are receiving special treatment.’

Center for Independent Studies He agrees, claiming that:

‘It is left to today’s young Australians to pay the interest bill or repay the debt. This means they will have to pay higher taxes in the future on things that mainly benefit older Australians today.’

4. It will unfairly advantage Australia’s youth by robbing the elderly

Analysis Western Australia Budget says…

…’It shows that the government is favoring young and poor voters at the expense of the older middle classes. ‘Baby boomers, and to a lesser extent Generation X, have been marginalized by the Budget’s tax changes, a historic shift in political power.’

Veteran journalist and retired professor at Griffith University, Ross Fitzgeraldit was hard In a Macquarie news source:

‘Treasurer Jim Chalmer’s obsession with intergenerational equity is in his budget, with Boomers in particular being punished for their hard work and courage in taking risks when buying property!’

5. It will serve to increase housing supply

in it Communication Bank housing analysis, senior Commonwealth Bank economist Trent Saunders He notes that limiting negative gearing to new builds provides protection ‘Tax support for new supply investment’.

This will have the undesirable effect of reducing investors’ rental income.

Saunders notes negative gear changes needed ‘support construction activities by diverting some of the demand from investors from established properties to new developments’.

Real estate valuation network hovr claim budget changes ‘it aims to direct investments towards additional supply rather than the existing housing stock’.

budget analysis Quoted the words of the Central Bank find HE ‘About 235,000 homes remain under construction, approximately 35% above the pre-pandemic average’.

6. It will serve to reduce the housing supply

The sixth bad consequence is that fewer houses are now available.

A Murdoch news site quotation A construction industry manager says:

“We do not expect the budget announcements to have an immediate positive impact on new home builds. In fact, there is the potential for a negative impact on housing supply in the short term if these changes make new homes less competitive against established stock.”

One editorial -most Architecture and Design claims:

‘Proposed changes to negative gearing and capital gains tax would take around 35,000 new homes out of the pipeline over the next decade, deepening an already severe housing shortage.’

The press was contaminated with treason

Some analysts to insist The budget will give multiple investment property owners an advantage over first home buyers. Terrible! Others directly declare opposite. Even scarier!

The result is clear. Mainstream commentators in Australia, including news reporters, economists and industry lobbyists, include pathetic partisan hacks determined to parrot the most craven, self-serving nonsense spouted by a host of hateful, monetized, anti-Labor political forces.

It doesn’t really matter what the criticism is. The aim of most media analysis in Australia is to: Negative informing its audience but condemning the Albanian Government at every opportunity and ensuring that citizens remain in a constant state of ignorance, anxiety, anger and depression.

That’s why the Australians have recently fallen from tenth to 15th in the global rankings. happiness Index from first to seventh in the OECD Better Life rankings index and save miscarriages on life satisfaction.

That’s why the consumer confident While Australians have more money in their pockets, they’re on the toilet bank accounts and Super funds are greater than ever.

Until Australia’s news media and economic consultancies up their game, marginalization will continue. And so it should be.

Alan Austin is an Independent Australian columnist and freelance journalist. You can follow him on Twitter @alanaustin001 and Bluesky @alanaustin.bsky.social.

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