Gareth Hutchins

So Jim Chalmers has said that back in early February, the budget was looking very different.

Then we had the war in Iran begin on the 28th of February and things have changed globally forever.

And so he's trying to very quickly adjust the budget to what's happening globally with energy supply and the war.

But he's also still trying to stick with the plan of this being a major reforming budget.

One of the biggest ones will be housing.

And you can apply a lot of different lens to analyze what's going to be happening.

But I think it's quite interesting to realise that at the last federal election, that was the first time that millennials and Gen Zs were a larger voting bloc than baby boomers.

And so it's not that surprising, I don't think, that we're going to be seeing a budget that is now tailored towards the concerns of millennials and Gen Zs, particularly when it comes to housing.

And do you think politically it's going to pay off?

I do.

Both of those I agree with.

I think politically will pay off as well just because the demographic numbers are there.

It's very different from 2019 when Bill Shorten was trying to take these ideas to the electorate and Labor got

really surprised by losing that election.

When it comes to housing, so Jim Chalmers has said that, yes, he wants to increase the supply of housing, but he also wants to change the composition of housing.

And that's just an economist word for talking about the distribution.

He wants to decrease the number of millennial and Gen Z renters and increase the home ownership rates amongst that cohort.

And how do you do that?

You do that by changing the tax settings to incentivize new builds.

not having investors come in and front run millennials at auctions to buy housing that already exists, but to encourage people to invest in brand new housing.