Chalmers can't avoid questions on house prices, Marles learns from melon saga
This week in Canberra the treasurer was grilled over the economy, the Coalition finally released its tobacco excise plan and Richard Marles gave the Trump administration a very low risk present.
Chalmers addressed questions regarding housing prices during a press conference, despite not being directly probed by reporters. The government's decision to abandon its pledge against rolling back negative gearing and the capital gains tax discount was backed by Treasury forecasts indicating a 2% slowdown in growth over several years.
Property data firm Cotality reported drops in housing prices across all capital cities in August, while the Commonwealth Bank projected a potential 13% decrease. Chalmers downplayed these fluctuations, attributing them to interest rate hikes rather than the government's tax changes. Fellow frontbencher Matt Thistlethwaite attributed the price decline to the tax changes, a claim Chalmers refuted.
Chalmers further criticized the impact of social media algorithms on society and decision-making, expressing concern that algorithms were exacerbating polarization. Prime Minister Albanese echoed this sentiment, advocating for greater control over online content.
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