PM loses his cool over property questions
The PM’s personal wealth has become a massive headache for Labor as the housing crisis bites. During a fiery post-budget Question Time, Albo looked visibly rattled when grilled about his own use of negative gearing and his massive property portfolio.
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When asked why young Aussies are being locked out of the tax breaks he used to build his wealth, the PM got defensive, deflecting to his upbringing. He claimed he only got onto the property ladder in his twenties because his mum gave him a hard nudge to buy a home.
As for his recently acquired $4.3 million luxury pad in Copacabana on the NSW Central Coast? Albo insists it’s just a home for him and his partner Jodie “down the track” and that he simply worked his way up.
A Cabinet full of landlords
It turns out Albo isn’t the only one in the Lodge living the landlord lifestyle. Recent data shows the Labor frontbench is absolutely packed with property investors:
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15 Cabinet ministers own investment properties.
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10 ministers rake in rental income, making them eligible for negative gearing.
Despite the obvious double standard—where politicians get to keep their grandfathered tax perks while young buyers miss out—the PM maintains the whole setup is perfectly fair.
Meanwhile, the Coalition has smelled blood in the water. Shadow Treasurer Tim Wilson accused the government of flat-out lying to the public, promising that if the Opposition wins the next election, they’ll dump Labor’s changes and bring back the tax cuts on day one.
