QUESTIONS WITHOUT NOTICE

Mr ALBANESE (Grayndler—Prime Minister) (14:34): When he's finished, Mr Speaker. The SPEAKER: The Leader of the Opposition and the Treasurer—the Prime Minister hasn't begun answering. Just cool it.

Mr ALBANESE: What these measures do, when it comes to capital gains tax, the negative gearing changes, the income tax reductions, the automatic tax deduction that we introduced today—quite the opposite of what the member for Page has suggested—is to enhance opportunity and aspiration rather than entrench privilege. We want every Australian to have the opportunity to own their own home, not just some, because we understand that Australians want not just a better life for themselves; importantly, they want a better life for their children and their grandchildren.

That is why the Howard government got rid of the averaging provisions. They said, 'It was used by a section of the asset-holding community to reduce capital gains taxation to zero, or near to zero, while others, who are not in a position to engineer the same benefit, carry the burden of taxation at close to their full marginal rate.' That is the whole point. People can still invest in housing and use negative gearing and use the existing capital gains tax discount, but, in order to do so, they'll have to invest in a new home.

What that will do, importantly— The SPEAKER: The question was regarding which of the lowest incomes will be hit hardest, and the Prime Minister is being directly relevant to that part of the question. But I'll hear from the member for Page. Mr Hogan: The question related to capital gains tax, not negative gearing.

I think the Prime Minister's confused. The SPEAKER: Well, to be fair to the member for Page, the question began with, 'It's been two weeks since the budget, and the Prime Minister might be across the details.' You've made an allegation. The Prime Minister is answering that part of the question, and then he's talking about— Honourable members interjecting— The SPEAKER: Order!

I'll make sure he's being directly relevant, and so far he is. He won't be able to stray too much further, because he wasn't asked about anything else, but he is being directly relevant. Mr ALBANESE: I'm talking about why, in 1999, the Howard government got rid of and changed the capital gains tax measures—because they were inequitable.

The question went to the issue of low-income earners and fairness. The truth is that what we are doing is fairer. Indeed, when it comes to— Mr Chester: What's fair about lying to Australians?

The SPEAKER: The Leader of the Nationals is going to leave the chamber under 94(a). I've already counselled him. The member for Gippsland then left the chamber.

Ms Catherine King: Canavan's gone. The SPEAKER: The Leader of the Nationals in the House of Representatives. Honourable members interjecting— Mr ALBANESE: They've lost the Leader of the Nationals in the House of Representatives, and now they're fighting over who'll take that spot, over there.

This is what the coalition, once one of the parties of government in Australia, have been reduced to. We introduced legislation this morning that will make our tax system fairer, that will enhance the opportunity for people to own their own home. (Time expired)