Former Coalition Treasurer Joe Hockey has declared the unprecedented collapse of Australia\u2019s major political parties “completely predictable,” as a bombshell new poll puts One Nation at the top of the leader board.<\/p>\n
According to a stunning Redbridge\/Accent poll, Pauline Hanson\u2019s One Nation has surged to 31 per cent<\/b>, leaving Labor trailing at 28 per cent and the Coalition languishing at just 20 per cent.<\/p>\n
Speaking to Sky News, Hockey said everyday Aussies are absolutely fed up with the political establishment in Canberra.<\/p>\n
\n“It\u2019s pretty predictable\u2014there\u2019s a lot of anger in the community,”<\/b> Hockey said. “People don\u2019t want the status quo; they don\u2019t want the same old behaviour from political leaders; they want change.”<\/b><\/p>\n<\/blockquote>\n
Tax reforms backfire on Labor<\/h4>\n
The poll results are a massive blow for Prime Minister Anthony Albanese. Even after launching controversial changes to negative gearing and capital gains tax (CGT) concessions to win over voters, Labor actually dropped three points post-budget.<\/p>\n
Treasurer Jim Chalmers\u2019 new budget binned the traditional 50 per cent CGT discount, replacing it with an inflation-adjusted model capped at a minimum 30 per cent tax rate.<\/p>\n
Hockey warned this new tax bite is a disaster for Australia\u2019s economy, threatening to drive homegrown Aussie startups straight into the arms of global rivals like Singapore and New Zealand. Just recently, NZ Finance Minister Nicola Willis went on a charm offensive, pitching New Zealand as a “great place to do business” with zero tax on capital gains.<\/p>\n
“If you\u2019re risking your time, effort, and money to start a business, and you end up giving half of your success to the government, you\u2019re going to look at other options,”<\/i> Hockey warned.<\/p>\n
Bricks and mortar over brains<\/h4>\n
Hockey, who ran the treasury from 2013 to 2015, argued that Labor’s changes have flipped the economy on its head. Instead of driving money into job-creating businesses, the new laws actually give investors a bigger incentive to dump their cash into property.<\/p>\n
“If I have $500,000, I\u2019ve got more of an incentive to put that money into a house in Glebe or Pakenham than into shares or your business,”<\/i> Hockey said.<\/p>\n
While the Albanese government claims the reforms will help 75,000 first-home buyers get a foot in the door over the next decade, Hockey says the heavy-handed taxes will strangle Aussie innovation just as the artificial intelligence revolution kicks off.<\/p>\n
Grim 15% unemployment warning<\/h4>\n
The former treasurer painted a dark picture of the near future, warning that AI could decimate traditional jobs in accounting, law, and medicine.<\/p>\n
Hockey doubled down on his recent National Press Club prediction, warning that Australia could see unemployment skyrocket to 15 per cent as early as 2030<\/b>.<\/p>\n
If that happens, Hockey warns, a cash-strapped government will stop taxing incomes and start hunting for your assets.<\/p>\n
“Governments will start talking about putting taxes on the family home, about death taxes, about new taxes on your assets,”<\/b> he warned.<\/p>\n
The only way out, according to Hockey, is to back local entrepreneurs. “The best way we can address this is having some kid in Geelong come up with a great idea that changes the world. You\u2019re not going to get that if you tax them at 50 per cent.”<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"
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