7am The Howard Effect: In the Shadows of the Australian Dream
Mar 3, 2026
Amy Remeikis, author and political journalist known for writing on Australian politics, discusses John Howard's economic revolution. She explores tax changes that fuelled housing investment. She examines the mining boom's role, the rise of middle‑class homeowner politics, and the GST’s fallout. Short, sharp takes on the policies that shaped modern Australia.
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Howard Sold Fiscal Credibility With Household Analogy
- John Howard reframed federal budgets as household budgets to claim fiscal competence and sell tax cuts.
- Amy Remeikis explains Howard and Peter Costello used the mining boom windfall to deliver surpluses and large tax cuts, creating the perception of superior economic management.
Mining Boom Masked Policy Effects
- The Howard legend of steady management was bolstered by timing: he benefited from a once-in-a-generation mining boom.
- Remeikis notes Paul Keating said Howard was 'slapped on the arse by a rainbow' meaning windfall resource revenues masked policy choices.
Capital Gains Discount Supercharged Property Investing
- The 50% capital gains tax discount turbocharged property investment by making half of gains effectively tax-free.
- Remeikis argues this policy turned housing into a reliable wealth vehicle for investors and 'mum and dad' buyers, rapidly inflating prices.