Comedian Dave Hughes has launched a blistering attack on the federal government over changes to capital gains tax (CGT) and negative gearing, declaring that the recent budget has 'tipped Australia over the edge' and left people 'angry like I’ve never seen before'.
The 55-year-old lifelong Labor voter, who has been outspoken against the Victorian government during the pandemic, stunned fans with a series of videos criticising Prime Minister Anthony Albanese and Treasurer Jim Chalmers. Speaking to news.com.au, Hughes said last month’s budget finally pushed him over the edge, despite supporting Labor at the last election.
'I’ve always been a Labor voter,' said the Australian TV icon. 'My dad was a factory worker, mum’s a nurse, so I grew up in a working-class family and carried that through my whole life, long after I became financially independent.'
Currently on a 36-stop tour across Australia, Hughes noted that people are approaching him daily to express their anger. 'Anyone who’s got a business is angry, no doubt about it. There are no businesses who think this is a good idea,' he said.
Hughes joins a chorus of business leaders and experts who argue that the sweeping CGT and negative gearing changes will cripple investment and fail to address the housing crisis. The reforms, which Labor calls the biggest tax overhaul in 25 years, will replace the 50 per cent CGT discount with inflation indexation and restrict negative gearing from July 1 next year. Additionally, a minimum 30 per cent CGT rate will apply, up from 16 per cent for low-income earners.
Prime Minister Anthony Albanese and Treasurer Chalmers had repeatedly promised before the last election that such changes were off the table. Hughes accused them of lying: 'You cannot make a change to the tax system that big without taking it to the election. The level of lying that took place, it’s so out of control.'
Hughes also criticised the government’s handling of the economy, pointing to rising interest rates and inflation. 'You cannot sell a house in Melbourne,' he said. 'In my suburb, every house has had a board up wanting to sell for months, even before the budget. The percentage correction in my area is massive. It’s bleak.'
He predicted a sharp drop in stamp duty revenue for state governments, as few houses are selling. 'Anyone who doesn’t have to sell won’t sell. People considering buying are thinking the rules will change at any moment.'
Despite his own property investments being grandfathered, Hughes said the changes discourage future investment in Australia. 'You just don’t want to invest in Australia anymore. Why would you? This country has to start developing stuff. We don’t make anything anymore. You cannot have the whole population working for the government.'
He highlighted the impact on young people: 'Any low-income earner who wants to get ahead by buying shares now faces 30 per cent tax if they sell. They have taken away all incentive to save, to invest, to innovate, to take risk.'
Hughes also slammed the government for failing to address NDIS rorting and the black market tobacco trade, which he says is out of control. 'No one in the government is doing their job. It’s just ridiculous. People are properly sick of it.'
A recent poll showing One Nation overtaking Labor in primary vote share for the first time (31 per cent to 28 per cent) reflects widespread discontent, according to Hughes. He attributed the result to the government’s arrogance and mismanagement, including record borrowing that has pushed national debt to $1 trillion.
Hughes was particularly scathing of the Victorian government, accusing it of spending like 'drunken sailors' during and after the pandemic. He said the cancellation of the 2026 Commonwealth Games and the East-West Link project wasted billions of dollars.
'Labor in Victoria has absolutely taken the piss for the whole time now. I thought federal was different, but Albo has come in hard, throwing money at Jacinta Allan just so she can get elected.'
Hughes warned that Australia is lurching towards authoritarian rule, referencing Paul Keating’s praise for China’s government. 'You can’t just fly around the country first class thinking they’re winners when the country’s $1 trillion in debt.'
