Politics Now A ‘difficult’ week for the PM
Feb 26, 2026
Jacob Greber, 7.30 Political Editor and on-the-ground correspondent in Farrer, provides local electoral analysis. He reports voter mood and key local concerns like health, water and childcare. The conversation also covers the PM's controversial 'difficult' remark, debates over capital gains tax and budget knife-edge politics ahead of major fiscal decisions.
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Capital Gains Discount Is On The Table
- The capital gains tax discount is actively under review as part of pre-budget 'kite flying' on intergenerational inequity.
- Jim Chalmers confirmed interest and Treasury reportedly models cutting the 50% discount to 33%, with revenue and design details still uncertain.
Revenue Use Will Decide The Politics
- The political test for any CGT change is whether revenue is banked or recycled to help younger earners, because simply 'taking' risks being sold as tax grab.
- Bill Kelty and economists argue reform must include income tax relief to address bracket creep and intergenerational fairness.
Prepare Voters With Belt Tightening Messaging
- The government is preparing voters for 'belt tightening' and significant spending cuts ahead of the budget to address inflation.
- Anthony Albanese and Jim Chalmers are framing cuts as economic necessity, signalling careful, staged measures rather than shock shocks.