Carrington Clarke

Australian housing is by almost any measure very unaffordable compared to other countries when we look at people's incomes versus how expensive they are.

how long it takes to save for a 20% deposit, for example.

But these changes may well also impact other types of investments like stocks.

And there is already a noticeable pushback by investment managers about even that speculation about what would happen.

In the startup community.

In the startup community, exactly.

What do you make of those changes?

Does it make sense to do that for consistencies purposes, to not be treating assets differently?

Or does it actually make sense to have different taxation arrangements for investments that aren't property?

which many people would say is a human right, right?

The right to shelter should not be treated the same as other investment options.

People think of these budgets, obviously this is a massive effort where Treasury has been looking at lots of different options for a sustained period.

You have to take into account the government's policies that they took

to the election, their own priorities.

But it does feel like this one in particular, it has changed dramatically.

And as you say, the Treasurer suggested this is a very different situation than what they were facing in early February.

But do you think they have had the capacity to think through all the potential changes and how this could play out on the economy?

The other thing that obviously we'll be looking for in tomorrow's budget is where they are making cuts, because there is obviously also a debate around demand in the economy.

We heard from the Reserve Bank governor about concerns.

As she said, aggregate demand is what's going to matter for them when they're making their calculations about where to next with interest rates.