Carrington Clarke

They don't need to be further incentivising the purchase.

And on the

on the question of whether or not we would see a gas tax.

We knew ahead of time that the government was going down the reservation policy route instead.

This is the East Coast.

But it remains to be seen exactly what those details are.

And the fraught issue of immigration, the government talks about maintaining the high-skilled migration program at 185,000 places.

But given the political environment right now, the rise of One Nation, where the opposition seems to be heading when it comes to migration, I think that's going to be an issue as

that will continue to play out over coming budgets.

Was there anything in this, Steph, that you found particularly surprising?

Yes, specifically detached houses, right?

Yeah, and that raises the question, a question that we had from an audience member, from Jenny, who asked, she said, in today's discussions on the budget, I'm not hearing anything about the research that's being done.

The negative gearing won't actually make much difference to first-home buyers.

Am I mistaken?

So I think she's asking about how Treasury's coming up with the modelling to say that these particular measures will or won't have an impact when it comes to first-home buyers.

So this is the argument that the changes...

to the capital gains tax discount and negative gearing, I assume, because kind of working together, what impact they'll have on first-term buyers.

I mean, the first thing to point out is this is done by Treasury.

So there are analysts there who are trying to work out what different moves in policy will mean for the real economy.

And the argument that they are making, and as with all modelling, it depends on what your inputs are,