Richard Chambers

They're going to touch both.

Now, how hard will they go?

Well, most of the leaks suggest that

pretty much everything will be grandfathered.

So you're going to lose out if you want to negatively gear an existing house.

So if you buy a house and negatively gear it, like many people do now, you won't be able to do that.

You'll only be able to do that on new properties.

And so the grandfathering of the capital gains tax discounts, that'll probably apply to all new sales, not existing properties that people have sold already or are about to sell.

So it's not going to be quite as bad as everyone suggests, but the baby boomers, you included,

We're going to cop it big time.

There's no doubt about that.

There'll be nothing in this budget for anyone over the age of 50.

And what Diver is going to do is they're going to align themselves very firmly with the Generation X millennials.

and that's where this budget will take us.

One interesting aspect, Mike, just quickly, is that the Finance Minister, Katie Gallagher, said today, or said yesterday in an interview, it'll be unsustainable for the government to continue indefinitely spending and supercharging spending on renewable energy projects.

So they've finally woken up that the money they've spent, which has been extraordinary, is just too much, and they're going to curtail the tax revenue.

brakes for electric vehicles, and they're also not going to be spending the sort of billions of dollars that they have been on wind towers and solar panels.