What’s the Opposition’s view on the Federal Budget?

Federal Opposition Leader Angus Taylor has delivered his Budget Reply – the Coalition’s formal response to the Government’s 2026-27 Budget.

The Reply is an opportunity for the Opposition to raise issues with the Government’s Budget measures and outline alternative spending plans.

In a speech in Parliament on Thursday night, Taylor said the Government’s changes to the capital gains tax and negative gearing were “locking out young Australians from the opportunities afforded to older Australians to build wealth”.

Budget

The Federal Budget is the Government’s key economic document. It details two things: where the government will allocate its money (spending), and how it will pay for it (revenue).

The Government released the 2026-27 Budget on Tuesday, outlining changes to the capital gains tax, negative gearing, and trusts.

After the Government hands down its Budget, the Opposition has an opportunity to formally respond in Parliament.

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Taylor characterised the Budget as an “assault on aspiration,” saying Prime Minister Anthony Albanese has “benefitted from” the previous tax settings on investment properties.

“Now he is pulling up the ladder of opportunity for the next generation not only by whacking higher taxes on housing but also on their savings, investments, and small business,” Taylor said.

The Opposition Leader also said “mass migration” is “holding Australia back,” linking the number of migrants Australia accepts to the lack of housing supply.

Taylor also laid out the Coalition’s migration policy, which it would implement if it won the next election (due in 2028).

Under a Coalition Government, Australia would block new migrants from accessing 17 support programs, including the NDIS, the age and disability support pensions, Youth Allowance, and parental leave.

People who move to Australia would not be able to access these programs unless they became citizens.

Any non-citizens currently on the scheme would keep their access.