Budget 2026 reactions: From Boomers to Gen Z, it's not good news for Anthony Albanese | Daily Mail

All we're talking about is housing in this country, especially in this city.What the government wants to do is take that money from me, from us, and spread it out.

It's really scary.It's really, really scary and spooky.

I think we've had it a bit too good for a bit too long.Oh please, really?Give it to somebody that really needs it.

What's your thoughts on last night's federal budget?

I'm from the UK and like coming here we get taxed 30 % so financially it's quite hard just to make it work.Naturally as well with businesses and trying to get sponsored and everything there's a huge cost to incur with that so it's just hard in itself.My rent's $465 a week on top of that then you have bills and everything else.

How much are you worried about?what your rent's going to go up in the next six months?

Oh, I'm really worried, especially around Bondi.I definitely think it will go up in January.And that's the hardest bit is that's when my lease ends.So they do it on purpose.So then in January, it's impossible to get a place around here.So then it goes up and you're kind of stuck because you can't find anywhere else.

But I reckon it will go up to around 500.And that's just going to be like near impossible to make work, especially on the salary that I'm on, you know.So it's very difficult for a young person.

Have you got any thoughts on maybe owning a home?

No, no.I definitely...That's something far, far in the future.

Yeah, obviously it's...Renting is kind of a tough situation.I feel like compared to those older generations, they...I think they think, oh, I could buy a house when I was this age back in my day, but it's kind of...Comparative to the wages, it's a lot harder now.

What were your thoughts on the budget last month?

I don't think it inspires the young ones to get ahead.

What do you think would let people willing to invest?

Well they won't if they can't use it as a tax deduction.

We used to have investment homes and you bought investment homes to get ahead at a cheap price so you don't buy a brand new investment home.because you've paid too much for it.So you get in low and keep it and it helps you with your sub -annuation.Rents will rise now because of this?Absolutely.There'll be no houses to rent.

So if no one buys investment homes, you won't have any homes to rent.

My son and his partner have just bought a house and they're investing and it's investing so I'm hoping it won't cause too much changes for him.We'll just have to wait and see.But my daughter rents and she rents over on the northern beaches and she's paying a ridiculous amount of rent at the moment so I don't know how changing the negative gearing is going to reduce the renting.It's probably going to be less investors so the rents will be become harder to find and go up.

I was reasonably happy with the budget.I'm probably in that demographic where they'll make a few changes for us.We do have some investment properties.Quite happy with the changes to that.don't have any family trusts so that doesn't affect us.I think the negative gearing changes and couple of gains tax changes were overdue so I'm happy for that and it'll wash through the system.

I think we've had it a bit too good for a bit too long.

I think that's, well, I mean, that's just been a minefield, hasn't it?That's just been a license to print money for the people that are doing the wrong thing, but the people that really need it, they're going to be the ones that suffer.

160 ,000 people have come off that.

Yeah, yeah.So that's, it's going to be the, poor family that really needs it, that are going to lose out.

Yeah, NDIS, I used to do some work in that space.I think it's a fantastic scheme, but it certainly needs some review.I don't know whether that'll make any difference.but I think if that means it'll save the scheme, then perhaps it's worthwhile.

$250 a year tax break.Talk to us about that.

Oh, please.Really?Give it to somebody that really needs it.

It's only $4 .80 a week.

It doesn't even cover a cup of coffee, does it?One coffee.

Is that going to make any difference to you?

No, not at all.Five bucks doesn't even pay for my Calipress coffee.

Here you go.What's that?One of these a week, right?Maybe.Did you want a croissant?Sorry.

I think it didn't go far enough in taxing the wealthiest of the people who live here.In the US, every day people buy things and have to pay tax, sales tax.In Australia, it's the same.It's called GST, right?But when the wealthy people, the top 1 % buy stock, there's no tax.Why not?

It's a purchase.So the broker gets his piece electronically.If they taxed the transactions of stocks, bonds, other securities, 1 % on every sale, you'd have all the money you needed.You could let everybody have a tax break, except those who don't need it, because they already have more money than they can spend.What do you make of the tax breaks, $250 a year?It's only a step in the right direction.

How do you think Labor is going after the unbeliefs of the government on the whole?

I honestly don't really follow politics that much, but I think it's because it is sometimes too convoluted.It's so hard for young people to really understand these days.I feel like a lot of people who have multiple properties doesn't give young people like us a chance to even put our foot in the door.

For me, it's probably not appealing anymore.With health concerns coming up for myself personally and different things, it's pretty much impossible to make it work for me.financially and also to make like a living and a future for myself here.

I don't understand this emphasis on the intergenerational transfer of wealth.So families work hard, my parents worked hard, my wife and I work hard, we accumulate some money.Why shouldn't we be able to transfer that to our children?Would you mark it out of 10 in the budget?

Probably a seven.

So overall, would you give it a pass, mark the budget?No.

No.

Not really?

It was disappointing.I think it's...I don't necessarily disagree with the way they were going, but I don't think they've done it nearly well enough.

Braver than the last one.And any other thoughts on it?I wish Australia well with it, because we need you to do well.We need all of us to do well.