Barnaby Joyce & Angus Taylor launch assault on Labor budget | Today Show Australia

Added: 2026-05-31

[00:00:00]Rent is may have to fork out even more for a roof over their head with industry modeling predicting new tax changes will cause a spike in the price of rents.

[00:00:09]Let's go live to Amelia Saunders in Canberra. Amelia?

[00:00:12]>> Yeah, it's not looking good Carl.

[00:00:14]Figures commissioned by housing groups, master builders, the property council and real estate institute predicting negative gearing and CGT reforms. They could push rents up by $477 per year over the next decade. That's as investors either vacate the market or they look to recoup the extra cost. The modeling also warning there will be 9,000 less new builds each year. Those numbers though, they're at odds with what was released by treasury forecasting rent rises of around $100 per year and an overall gain of 12,000 new builds. The reform though, they're likely to stay. Introduced to parliament yesterday and expected to pass with support from the greens after a snap senate inquiry, Carl.

[00:00:58]>> Amelia, thank you.

[00:00:59]>> [music] >> Welcome back. Well, another heated question time played out in the capital yesterday with Angus Taylor calling Anthony Albanese a quote arrogant [music] prick.

[00:01:07]>> Oh.

[00:01:08]I think you're going to say it.

[00:01:10]>> Oh, well.

[00:01:10]>> Uh for more the opposition left.

[00:01:12]>> No, I'm here for it. Uh joins us now live in Melbourne, Angus.

[00:01:15]You little potty mouth.

[00:01:16]>> Your words, not mine.

[00:01:17]>> [laughter] >> Well, well, I you know, I have I have to say that I'm hearing far worse at the moment from others.

[00:01:24]>> Yeah.

[00:01:24]>> Uh as I get around the country and small business people and farmers, they're angry.

[00:01:27]>> They're angry.

[00:01:28]>> So, no regrets. Are you sorry for the >> I I had to I had to withdraw it. It was unparliamentary. But but what I am hearing everywhere I go is far worse than that, Carl. Um the truth the truth is uh that people who are running small businesses, farmers are angry at a government that lied to them before the last election. Said that these taxes weren't going to come into place and this is an absolute war on aspiration.

[00:01:51]If you're trying to grow a business, get ahead, uh create opportunity for yourself and your family and your community, um you're going to get punished by this government. Uh they've they've lied to them all the way along and and the worst thing, Karl, is that we ask questions of the Prime Minister in question time. He doesn't even try to answer them. He's not even attempting. I don't know if he understands it or he's trying to get around it, who knows.

[00:02:14]Uh but we need a government that's actually going to back some of the hardest-working Australians.

[00:02:19]>> Oh, it's just a side of you, Angus Taylor, that we don't often see. So, we might just see a little bit more of that. Um But listen, there are some really serious issues at play here. You know, you mentioned a few of them just then, but also rent. I mean, there are figures this morning that it could go up as much as $477 a year by the end of the decade.

[00:02:35]That is not going to be welcome news for the so many who are renting out there.

[00:02:38]>> No, absolutely not. I mean, and the in a and in an uncharacteristic piece of honesty in the budget papers, the government admitted that their tactoxic taxes were going to reduce the supply of housing and increase rents, and this modeling out today confirms exactly that. Jenny Wilkinson and the the uh Secretary of Treasury yesterday admitted that it would reduce supply, and that means rents will go up. Uh you know, this is just a tax grab. Let's be clear.

[00:03:05]And and again, the Treasury Secretary admitted this yesterday. It is just a tax grab because this government has run out of money.

[00:03:12]>> I thought those comments were were pretty extraordinary. The Treasury Secretary, as you mentioned, um says the changes are more about changing the distribution of housing ownership rather than supply.

[00:03:23]>> Well, it's going to reduce supply of houses. And we need more houses. It is What we've seen under this government is 1.4 million people come to the country in 4 years.

[00:03:34]>> But you dropped the ball on that, too.

[00:03:35]>> Well, but but we've never seen anything like that, Karl. This is beyond anything we've ever seen before in the last 4 years. We're on our way to 2 million in 6 years. That's not the fault of of people coming to our country. It's the fault of the government. And housing construction has gone backwards. So, no wonder young Australians can't get into a home, and these taxes are only going to make the situation worse. It is an abject failure from this government.

[00:04:01]There is a better way, but we're not seeing it from this government.

[00:04:05]>> What was also interesting was that um the Treasury secretary said that the revenue needs to be raised from somewhere, right? So, where would you raise it from?

[00:04:11]>> Well, I just we we we have already laid out where there is wasteful spending that we don't need. I mean, we don't need billions and billions of dollars going on these net-zero projects that are going absolutely nowhere. Power lines to nowhere, green hydrogen projects that are delivering absolutely nothing. Corporate welfare, big corporates, multinationals getting money from this government. Housing programs that are leading to fewer houses, not more houses. This is not money we need, and and we should be focusing on putting Australians first. I mean, the 5% home deposit scheme for non-citizens.

[00:04:49]Seriously, there's no shortage of money here that's being wasted. That's where the focus should be.

[00:04:54]>> All right. I reckon for the record, keep the language colorful. I think it's good for your you know, for your numbers.

[00:05:00]>> There you go. That's some free advice for you from Uncle Carl.

[00:05:03]>> I won't start right now, Carl.

[00:05:05]>> I want you to go. I want you to go. I want you to really let me have it. Go on. [laughter] >> Any words of wisdom for Carl? Come on.

[00:05:12]>> Uh well, Carl, you know, just maybe you need a lip reader in the parliament.

[00:05:16]You'll see [laughter] a bit.

[00:05:17]>> I got it. We got it. Good on you, Angus.

[00:05:19]Thank you.

[00:05:20]>> Angus, good to chat.

[00:05:20]>> The tax battle that's been brewing for weeks is now piping hot, Barnaby. But, I want to ask you this. Have you ever called anyone an arrogant prick before?

[00:05:33]>> I have most definitely done that.

[00:05:34]>> [laughter] >> Find myself in the mercy of the court.

[00:05:37]>> What about the PM? Have you called the PM that?

[00:05:41]>> I haven't done it in parliament. Not not yet. So, I I Slip of the tongue, and he's got caught.

[00:05:47]Caught. That That happens. I'm I'm sure I'm sure Anthony Albanese has heard worse.

[00:05:52]Um I've heard worse things said about me, much worse, and I'm sure he's [clears throat] heard much worse things said about him. You know, well, get over it. Get going.

[00:06:01]>> Well, I mean, it's it's probably going to be good for his numbers in the end.

[00:06:04]It's It's kind of One Nation mojo.

[00:06:08]>> Yeah.

[00:06:09]Yeah, no, even we got to be careful with that stuff like that.

[00:06:13]I I Look, I'm really comfortable with where One Nation's numbers are polling.

[00:06:17]That Oz Gov poll the other day has gone up again. Um it's an incredible um responsibility we got and we've got to you know, all I'm thinking about is how, you know, we we match up to the responsibility of the Australian people.

[00:06:28]>> You wanted early election. You and Matt Canavan wanted an early election. I mean, you've probably got more chance of going to the Olympics.

[00:06:36]>> election.

[00:06:37]>> [laughter] >> I I'll take an early election. I don't know whether that's a smart thing for the coalition to do right now. I really don't. But One Nation would certainly take an early election if there's one on offer and um we're not going to have an early election cuz the one person who doesn't want an early election and that is the Prime Minister of Australia, Anthony Albanese, whose polling now has a two in front of it, just like ours. In fact, they're only slightly but slightly, you know, one percentage point or two percentage points above One Nation. We have five in the parliament, soon to be six. Uh and they've got what, 93 or 94 people in the House of Representatives alone.

[00:07:10]>> Barnaby, we learned this morning rents are on the way up and the Treasury secretary said yesterday it's not about supply of housing this budget, just a redistribution of wealth. So, finally someone is indicating what we've all seen.

[00:07:26]>> Well, Ms. Wilkinson said one thing that's completely correct. She said, "Well, we had to had to find the revenue somewhere." That's what it's about. They ran out of They ran out of money. They can't work the assets on the balance sheet. They don't want to build coal mines or iron ore mines or new dams and new power plants. And then they give away the trinkets, of course, the living measures as if they're giving them away.

[00:07:45]They're actually giving you your money, and then they go, "Hang on, we got to go find the money." So, they go and tax you. They tax you, but she also said that it won't that won't change people going to business. Yes, it will. Why would I take a risk and go into business and possibly do my shirt? We got record insolvencies in small business last year.

[00:08:04]When ultimately, if I win, Uncle Jim takes half of it. I don't think that's a really good deal. I'd whoop it up, go skiing, pay it up against the wall, buy myself a new car, a new boat, have a hell of a time. Yeah?

[00:08:17]What Why take a risk?

[00:08:19]>> It does sound pretty good. Um Barnaby, good to talk to you, my friend. Take care out there.

[00:08:25]>> Absolute pleasure. See you.

[00:08:25]>> Sarah.

[00:08:26]>> Yeah.