QUESTIONS WITHOUT NOTICE

Senator GALLAGHER (Australian Capital Territory—Minister for Finance, Minister for the Public Service, Minister for Women, Minister for Government Services and Manager of Government Business in the Senate) (14:00): I thank Senator Chandler for the question. We did spend quite a bit of time on this question at estimates, and I made it clear at the time—and I think the PM made it clear at the time in his comments—that the changes we have made on CGT were to go back to concession arrangements that were indexed for inflation and for tax on real gains, as opposed to the 50 per cent blunt concession that was in place since that time.

We are, on this side of the chamber, proud of the tax reforms that passed this parliament last week to make sure that we are able to better balance the tax paid on wages with some of the tax paid on assets and also to make sure that first home buyers in particular get a chance to buy a house in a housing market where the intersection of housing and tax has encouraged investment into established properties at the expense of younger generations who have not been able to get into the housing market.

So, yes, we have made a number of changes in relation to tax reform that passed this chamber on Thursday to better set up our arrangements for the future but also to make those tax arrangements fairer for all Australians and working in the interests of all Australians, and that's what this government will continue to do—to focus on real change that makes sure that all Australians have a stake in the economy now and into the future.

Those reforms passed this chamber because they were the right thing to do, and those opposite are there to protect the status quo and want to pretend that you never need to change anything. That's why you're on the opposition benches, and that's why you will stay on the opposition benches. The PRESIDENT: Senator Chandler, first supplementary?