Patricia Karvelas

Yeah.

That's intense.

I've got a spending.

You know, same dude.

Or not spending it at the moment, like all of us are being crunched.

But I think that the political calculation is not pissing off people who went to the last election being told that Labor doesn't want to change their tax arrangements.

That's what Labor told them.

You don't want to mess with those people.

However, there is a risk that people will go, right, so now you've protected the Gen Xers and the baby boomers who are already negatively gearing.

forever, potentially, until it ends for them.

And no one else can use it.

That is politically risky.

So their strategy is legislate it fast, make people get used to it, and there'll be new issues, i.e.

they will be promising you watch this space, tax cuts to voters at the next election, which they will fund with all of the revenue that's coming in.

So that's their calculation.

Your point is, might people go, oh, this is intense?

And have a backlash to Labor.

Absolutely.

That's part of the risk.

They have rolled the dice.