Angus Taylor targets Labor tax changes and migration in major Coalition Budget reply

Opposition Leader Angus Taylor will use his first Budget reply speech on Thursday night to launch an aggressive Coalition pushback against Labor’s tax agenda, unveiling policies focused on housing affordability, migration and cost-of-living pressures.

In a sign the Coalition is sharpening its economic attack lines after last year’s election defeat, Mr Taylor confirmed the Opposition would fight Labor’s planned changes to negative gearing and capital gains tax concessions, arguing the measures would hurt Australians trying to “get ahead”.

“It’s an assault on aspiration,” Mr Taylor said during an interview on Sunrise on Thursday morning.

Mr Taylor said the Coalition would continue opposing the proposed tax changes through Parliament and would seek to repeal them if elected to government.

Thursday night’s Budget reply is also expected to include a stronger focus on migration and housing supply, with the Coalition proposing to tie net overseas migration levels to the number of homes available.

“Young Australians can’t buy a home because the level of migration is too high,” Mr Taylor said.

Under the Coalition’s proposed model, migration would sit well below the post-pandemic peak and be assessed annually against housing availability.

The speech is expected to form part of a broader Coalition reset following last year’s election loss and the recent Farrer by-election result, where Pauline Hanson’s One Nation recorded a significant swing.

Mr Taylor is also expected to unveil housing measures aimed at reducing construction costs and boosting supply, as the Coalition attempts to reposition itself as the party focused on affordability, economic management and aspirational voters ahead of the next election.