One Nation leader Pauline Hanson has accused Labor of “stealing” from young Australians and retirees after the government unveiled its most controversial housing and tax reforms in years.
Senator Hanson launched a blistering attack on Labor’s budget agenda after changes to negative gearing, capital gains tax concessions and family trusts were revealed last night in a bid to tackle housing affordability.
“If this is all about housing for young people then why are all our other assets being included such as shares, commercial property, industrial property — what’s that got to do with housing?” Ms Hanson posted on X.
In a separate Instagram statement, Ms Hanson claimed Labor was “economically incompetent” and accused the government of saddling younger Australians with massive debt.
“They are stealing from the younger generation, putting $1 trillion in debt on the national credit card,” she wrote.
“This amounts to $36,000 for every Australian, and every young person will have to pay this back and more.”
The fiery intervention comes as the Albanese government prepares to go all-in on what some commentators are describing as a political “FAFO” moment, with major reforms targeting property investors and wealthier Australians.
The government is betting younger voters locked out of the housing market will reward Labor for taking on entrenched tax concessions which are blamed for inflating house prices.
But the political risks are enormous, with critics warning changes to negative gearing and capital gains tax discounts could spook investors, push rents higher and hammer household wealth at a time when Australians are already struggling with soaring living costs.
Ms Hanson used parliamentary Question Time to accuse Labor of “robbing young Australians of their future” through what she described as reckless spending, mass migration and failed housing policies.
“Labor has committed many billions of dollars to improving housing supply without actually increasing it, but refuses to do anything about demand by slashing immigration,” she said.
“The exodus of investors from housing is just going to increase rents even more.”
The One Nation Senator pointed to rising mortgage stress, climbing rents and worsening living standards since Labor took office in 2022.
“Typical full-time workers now pay between 40 and 50 per cent of their earnings on their mortgages, up from 32 per cent in 2022,” she said.
“Average rent prices have increased more than 42 per cent in the past five years.”
She also lashed the government’s debt levels, noting gross debt had tipped above $1 trillion.
“Gross debt per capita is now more than $36,000,” Hanson said.
The government argues the reforms are necessary to tackle a housing affordability crisis that has left younger Australians increasingly locked out of home ownership.
Under the mooted changes, Labor believes around 75,000 younger Australians could be helped into the housing market.
However, the reforms are already igniting backlash online.
One social media user, Keith Marlow, backed senator Hanson’s criticism.
“A very good question,” he wrote.
“I also noticed there is nothing targeted specifically to help first-time young home buyers. It’s all indirect.”
Another commenter took aim at Ms Hanson herself.
“Jeez, Paulooney, if you can’t figure that out, how the heck would you run a country? IT’S BASIC,” the user posted.
Others warned the reforms could hurt younger Australians trying to save for a home deposit through investments.
“My young daughter has purchased shares that have done well in order to get a deposit for a house, that idea is out the window now,” Vanessa Hobson wrote.
“She will have to live with us longer now.”
The debate threatens to reopen old political wounds for Labor.
The party famously took negative gearing and capital gains tax reforms to the 2016 and 2019 elections under Bill Shorten — and lost both times.
After the 2019 defeat, Labor abandoned the policies entirely, insisting the controversial tax changes were dead and buried.
Now, with housing affordability dominating political debate and younger voters increasingly frustrated, the Albanese government appears ready to revisit the fight.
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