QUESTIONS WITHOUT NOTICE

Ms PENFOLD (Lyne) (14:37): My question is to the Treasurer. Yesterday the Treasurer was asked about his plan to force thousands of widows and divorcees to pay more tax by removing their access to grandfathering for capital gains tax and negative gearing. He said: … the arrangements as you describe them are consistent with the way that the acquisition rules apply in the current CGT arrangements.

This morning, the Prime Minister had to step in again and dump the Treasurer's plan. How many more humiliating backdowns will it take for the Treasurer to admit his budget is a failure?