Jim Chalmers

And so we thought the best way to do it would be to say, if you're negatively geared now, you can keep doing that.

Obviously your property at some point will become positively geared.

If you wanna make a new investment, it's gotta be making a contribution to supply.

And we think that's the best of the available models, but we did grapple with that one for a bit.

I'm so careful about making assumptions about the Senate.

You know, Albo and I always joke with Katie Gellerher that Albo and I don't speak fluent Senate.

Katie's our... Senate whisperer.

Senate whisperer, Senate translator and so...

I'm not sure yet.

Yeah.

Obviously, we would expect the Senate to pass what we propose, but we try not to take any outcome for granted.

We try and be really respectful with crossbench colleagues because we can't pass anything on our own in the Senate.

And so we'll need the support of others.

And so we'll engage with them in good faith.

Awesome.

Australia's longstanding housing shortage is making homes unaffordable.

This challenge hits young workers and families hard and we're addressing it from every responsible angle.

Speaker, this is the most important and ambitious budget in decades.

Important because the world is throwing a lot at us and this budget is about helping Australia deal with those challenges.

This will help rebalance a system which is more generous to assets than it is to labour, and help rebalance a system where house prices have decoupled from incomes.