Independent senator David Pocock said a housing correction “would be a good thing for our country”, arguing house prices cannot keep rising at the pace they have over the past two decades. He also welcomed Labor’s change to negative gearing laws to better protect widows and divorcees and remove the so-called “widow tax”.
Pocock spoke to ABC News Breakfast this morning and said housing prices have become accepted as something that should keep rising rapidly, but that Australians need to ask what housing is for. He said housing is fundamental to functioning as a human and to flourishing families and communities, and that prices must be kept in check over the next couple of decades while wages rise so housing becomes affordable again.
It’s kind of just become this normal thing that house prices go up at a rapid rate. I think we’ve got to ask the question – what is housing for?
Housing is so fundamental to functioning as a human, to flourishing families, communities – we have to actually ensure that we can keep house prices in check over the next couple of decades while wages rise to get back to a point where housing is affordable in this country.
His comments come as Labor has moved to adjust tax settings linked to housing investment and as debate continues over affordability and market pressures. In the background, earlier coverage of housing reforms has also highlighted the government’s broader push to reshape property policy.
What did Pocock say about the housing market?
Pocock said a correction in house prices would be “a good thing for our country” because prices should not continue to grow at the rate they have over the past 20 years. He said the country needs to keep housing affordable while wages catch up.
He also said it was great news that Labor had released a change to negative gearing laws aimed at better protecting widows and divorcees and removing the “widow tax”.
It’s kind of just become this normal thing that house prices go up at a rapid rate. I think we’ve got to ask the question – what is housing for?
Housing is so fundamental to functioning as a human, to flourishing families, communities – we have to actually ensure that we can keep house prices in check over the next couple of decades while wages rise to get back to a point where housing is affordable in this country.
What did Kevin Rudd say about Pauline Hanson?
Former Labor prime minister Kevin Rudd delivered a sharp criticism of Pauline Hanson’s politics, describing it as protest politics rather than practical government. He said the hard business of government is to find responses to challenges such as national security, the economy, environmental sustainability and housing affordability.
Rudd said Hanson’s approach is the easy business of politics, arguing she acts as a protest vector and uses race politics. He said that had been her approach since she emerged in Queensland about 25 years ago.
The hard business of government is to come up with practical responses to each of those challenges.
The easy business of politics is simply to act as a protest vector and then lace it and spice it with the politics of race.
That is what Ms Hanson has been doing ever since she emerged in my fair state of Queensland a quarter of a century ago.
What single answer does she have to any of the challenges I listed before? Zip is the answer to that.
What will Chris Bowen announce about solar discounts?
Energy and climate change minister Chris Bowen will announce an expansion of the small-scale renewable energy scheme (SRES) in an address to the National Press Club today. The change will extend the solar discount to installations of up to 1MW, which is 10 times higher than the current 100kW limit.
The expansion is expected to slash installation costs for commercial, industrial and agricultural buildings by around 20% and encourage more mid-scale solar projects, which Bowen is expected to call the “missing middle in Australia’s energy transition”.
Australia is a world leader in residential solar on a per capita basis, with 22GW installed as of last December, but businesses have installed only about a quarter of that amount, or 5.6GW, despite consuming more electricity than households, according to a .
Bowen is also expected to ask the Australian Energy Market Commission to consider a rule change requiring network providers to approve commercial and industrial solar much more quickly and efficiently than they have been doing.
Today’s announcement follows a $100m federal investment through the Clean Energy Finance Corporation, announced on Monday, to support development of up to 16 hybrid solar, battery storage and battery retrofit projects.
Why is the solar scheme being expanded?
The expansion is intended to fill what Bowen describes as the “missing middle” in Australia’s energy transition. It aims to make mid-scale solar more attractive for businesses, farms and industrial sites by reducing upfront costs and speeding up approvals.
missing middle in Australia’s energy transition
By widening the scheme to larger installations, the government hopes to accelerate the take-up of commercial solar at a time when residential uptake is already far ahead of business adoption.
What did Pocock say about gambling reform?
Pocock also said he has been shocked by evidence presented to the parliamentary inquiry into the gambling industry. He said the testimony over the past two days had shown why Australia is the biggest per capita loser in the world when it comes to gambling.
We’re the biggest losers, per capita, in the world. The last two days has shown us exactly why. You have a predatory industry that is doing everything to, one, normalise gambling against Australians, and, two, to absolutely milk people for their money.
He said gambling reform is not a left-versus-right issue, but one of vested interests blocking action by the major parties, particularly the prime minister. Pocock said the Senate, the Coalition and the crossbench had an opportunity to tell the government to protect young Australians.
This is vested interests and their stranglehold on the major parties. And particularly on the prime minister. That is what’s stopping the government doing what the vast majority of Australians want. …
This is a real opportunity for the Senate, for the Coalition, for the crossbench, to say to the government – we’re going to actually protect young Australians.
How will Jetstar change carry-on baggage?
Jetstar will remove its 7kg carry-on weight limit from February 2027 and instead allow passengers to bring just one underseat bag, such as a backpack or handbag. Customers who want to use overhead lockers will need to buy “priority carry-on”.
The airline said the new model will charge for a second, larger bag and priority boarding, with fees starting at $25 one-way on short flights and rising to more than $52 on long-haul routes. Jetstar said the change responds to frustration from passengers and crew over access to overhead bins.
The airline’s chief executive said the new approach would help make better use of overhead locker space, streamline boarding and improve on-time performance while keeping fares low.
By giving customers an underseat bag with the option to add Priority Carry-on, we can make better use of overhead locker space, streamline boarding and help more flights depart on time.
Our new carry-on baggage model provides more choice to customers while helping to keep our fares low. You only pay for what you need – travelling with less means paying less, and you can always add more if you need.
What is Labor changing on the “widow tax”?
Labor has announced it will drop the so-called “widow tax” in its next tranche of tax reforms after pressure from the opposition and crossbench. The changes are linked to reforms to negative gearing and the capital gains tax discount announced in the May budget.
Under the original proposal, a widow or divorcee could have lost a tax concession, something Labor had promised to fix in later legislation. It was also revealed in that if a property was owned by a couple, they could lose grandfathered exemptions to negative gearing and capital gains tax if they divorced or if one partner died and the property was transferred to the other.
The treasurer has now also exempted beneficiaries of “genuine testamentary trusts, deceased estates and special disability trusts” from the new minimum tax on capital gains. The government will now consult on the latest changes.
What else should readers know this morning?
Good morning, and happy Wednesday. Nick Visser here bright and early. Here is what’s on deck.
Jetstar will make it more difficult for travellers to bring carry-on baggage onboard an aircraft. The company will remove its 7kg carry-on weight limits, but impose a size-based model that will allow customers to bring just one underseat bag. An overhead bag will now cost.
The federal government said it will drop the so-called “widow tax” after widespread pressure from the opposition and crossbench. Under the reforms to negative gearing and the capital gains tax discount, a widow or divorcee would have lost their tax concession.
Stick with us, more on these stories soon.
Key Facts
- David Pocock said a housing correction would be “a good thing for our country”.
- Chris Bowen will expand the solar discount under the SRES to installations up to 1MW.
- Jetstar will remove its 7kg carry-on limit from February 2027 and charge for overhead locker access.
- Labor will drop the so-called “widow tax” in its next tranche of tax reforms.
- Kevin Rudd criticised Pauline Hanson as a protest politician focused on race.
