Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026

Mr TIM WILSON (Goldstein) (13:25): There is delusion going on in this chamber, based on the speech just given by the member for Maribyrnong. I have never heard such a wilful disregard and contempt for the Australian people. We've heard it from the Treasurer and, now, from the member from Maribyrnong.

And I'm quite sure the gaggle of members that follow will repeat those untruths. There were so many references to promises during that speech—'the promise we gave to the Australian people'—with an emotion and an enduring commitment. Have you been missing every day since the last budget, where the open deceit of the Australian community by the Prime Minister and Treasurer has been nakedly obvious to the Australian people?

Your credibility has been shredded, destroyed. Nobody believes this bloke anymore—the idea that you have a prime minister whose starting position is 'my word is my bond' and then comes and betrays the Australian community with wilful disregard. I understand why he has to keep repeating the misinformation and the deceit to be able to maintain face.

I do not understand, Member for Maribyrnong, why you're following up and backing it, why you're doubling down and attaching yourself to a sinking ship. This bastard budget was built on broken promises. The idea that we are going to have members who are going to be complicit, who choose to sign up and stand by it—they will go down with the Titanic that is called the Albanese government.

And they should be taken down, because there has never been a budget taken to the Australian community with, as we've seen, such open and flagrant disregard. We have a train wreck Treasurer who simply fails to understand the scale of what he is doing. He doesn't even understand his budget, and you can see this in the public conversation, right now, where he's constantly throwing out misinformation or wrong numbers.

He's hiding behind his Treasury secretary as a form of interference. Their own budget papers say that inflation is going to be 2.5 per cent, but, to justify their changes on capital gains tax, they're now saying it's going to be three per cent. No matter where you look, the Albanese government is betraying and deceiving the Australian people.

And the Australian people are seeing right through it. That's why this government is in so much trouble, because Australians know that they have been betrayed. Australians who've worked hard, who've saved, who've sacrificed for the future and who've worked to make sure they put themselves in a position to be independent, despite the taxes of government, are now finding the government want to double their take but do none of the work.

As I said in my National Press Club speech recently, the Prime Minister is to small businesses like the person in the group assignment who does none of the work but still wants the grade. This is the problem. The Australian people have seen through the fraudulence of this government and what they're seeking to betray.

You just need to look at their own budget papers, which actively say that the changes to taxes are going to increase the cost of rents. Young Australians, who we've heard so much about in the speeches from those opposite, are being betrayed by the Albanese government. And now we have additional, external research and modelling which shows that rents are going to continue to go up.

On top of that, the government's own budget papers say they're going to build fewer homes. What happens when you build fewer homes but you continue to overshoot migration targets? What happens, Member for Groom?

House prices are going to become less affordable for Australians who simply want to get into the market and build their own life and their success. These family savings taxes are a direct assault on the Australian people, and they must be stopped. The DEPUTY SPEAKER ( Ms Claydon ): The debate is now interrupted in accordance with standing 43.

The debate may be resumed a later hour, and the member will have leave to continue speaking when the debate is resumed.