Comedian Dave 'Hughesy' Hughes has launched a blistering attack on the Albanese government over its controversial changes to capital gains tax (CGT) and negative gearing, warning that 'people are angry' about the reforms.
The popular stand-up comedian expressed his fury over Treasurer Jim Chalmers' budget reforms, which included plans to abolish negative gearing for future investors buying existing properties. The budget also replaced the Howard government-era 50 per cent CGT discount with an inflation-indexed model first introduced under former prime minister Paul Keating.
'Bang out of order'
Hughes told news.com.au that last month's budget was the final straw for him, despite having supported Labor at the last election. 'My dad was a factory worker, mum's a nurse, so I grew up in that sort of working-class family and carried that through my whole life, long after I became financially independent,' he said.
'I'm walking down the street every day now, people are saying, 'keep going.' It's unbelievable. People are angry. Anyone who's got a business is angry, no doubt about it. There are no businesses that think this is a good idea.'
The stand-up comedian described the budget as 'bang out of order'. 'You cannot make a change to the tax system that big without taking it to the election,' Hughesy said. 'The level of lying that took place, it's so out of control. So many people made economic decisions taking these politicians at face value.'
'There's going to be so many people with houses they paid way too much money for now. You can't bald-faced lie before an election. Chalmers and Albo were asked 100 times, they looked into the camera and said no.'
Election promise broken
Hughesy previously said he regretted voting for Prime Minister Anthony Albanese and Mr Chalmers, claiming the election was 'not valid' due to the policy backflip. 'I voted for Albo and Chalmers - they didn't have a mandate for changing capital gains tax,' he said in a social media video last month. 'It's now the highest in the world. No one is going to want to invest in Australia.'
In 2025, Mr Albanese said changes to CGT and negative gearing were 'off the table'. Just 12 months on, Mr Chalmers restricted negative gearing and imposed a minimum 30 per cent tax rate on capital gains from 2027.
Labor has argued the changes will improve housing affordability and rebalance the tax system. However, according to some experts, the package risks damaging investment confidence and hitting small business owners who rely on trust structures.
Polling disaster for Labor
The latest Sky News Pulse / YouGov poll found 60 per cent of voters were dissatisfied with Mr Albanese, compared with just 34 per cent who were satisfied. Overall, Mr Albanese suffered a net negative satisfaction rating of -26, and delivered Labor its worst primary vote ever under his leadership.
