STATEMENTS BY MEMBERS

Mr LLEW O'BRIEN (Wide Bay) (13:45): The Albanese government's mismanagement of the economy and new taxes are certainly turning the Australian dream into a nightmare. Labor's own budget reveals that its housing taxes will result in fewer homes being built, Labor's changes to the capital gains tax and negative gearing are pushing up rents, and Labor's ban on self-managed superannuation funds' borrowing money to buy residential property is stifling the investment housing market.

But don't just take my word for it. Modelling from Master Builders Australia, the Housing Industry Association, the Property Council of Australia and the Real Estate Institute of Australia has revealed that Labor's claim of rents only rising by $2 a week is wrong and it's likely to be five times that amount. It found Labor's housing tax changes will decrease dwelling construction starts by 10,700.

There'll be a billion-dollar hit to the GDP in construction. Jobs will fall by around 4,700 positions. With real wages and house prices falling and interest rates rising, the nightmare of going into negative equity is real.

Cotality found house prices fell in 95 per cent of suburbs in Australia. The coalition will help Australians wake up from Labor's nightmare by axing their toxic taxes.