James Thomson

It is fascinating to me.

Well, who knows, they might be right.

Alan, do you expect much investor blowback here?

What do you mean by investor blowback?

Well, you know, the framing of this has been that it's sort of a hit on boomer wealth and the calculation here

I think very clearly by the government, is that the 2028 election is going to be the first election where Gen Z millennials and what they call Gen Alphas, who are sort of teenagers now, are going to account for a bigger share of the vote than the builders, boomers and Gen X. So the calculation here seems pretty clear that

older Australians take a whack so younger Australians can have a crack to coin a frat.

To quote yourself.

Yes.

Well, yeah, I haven't actually used that, but now I say it, I might.

But, you know, those well-established, wealthier, older Australians are still a powerful group.

And, of course, they're represented by lots of, you know, the financial institutions and all that sort of thing.

Do you expect a big bit of blowback?

There you go.

And this is a particularly political budget.

There's no doubt about that.

Yeah.

Well said, Alan.

Yeah, I think in some ways this is a bit of a sad story.

Sad for the shareholders.