Politics Now

Treasurer Jim Chalmers has unveiled his highly anticipated fifth budget, claiming it's the "most ambitious and important in decades".
Housing tax reform was the centrepiece of the wartime budget, with changes to negative gearing and the capital gains tax discount announced.
Labor says the reforms will allow 75,000 new people to afford their first home, but does the move go far enough to address intergenerational inequity? Will voters reward them for taking a risk - or punish them for "breaking a promise"?
And as inflation continues to surge, how healthy is the budget bottom line?
Patricia Karvelas and Carrington Clarke break it all down from the budget lock-up on this Politics Now x ABC Business Daily special episode.
Got a burning question?
Send a short voice recording to PK and Fran for Question Time at [email protected]

Labor is leaning into housing this budget, with big tax reforms to negative gearing and capital gains tax to form the centrepiece.
It's all in a bid to address intergenerational inequity — but as Tom tells PK, grandfathering could "directly undermine" that and feed into accusations the Albanese Government is "pulling the ladder up" on a new generation.
As PK says, the way Labor "frames" the reforms is key both to win over voters and ward of future scare campaigns. 
But while the Albanese Government wants the focus to be housing, Tom is convinced that come end of week we're going to be talking about another element of the budget "whether it's trusts, whether it's capital gains in the share market".
And remember there will be another special episode of Politics Now x ABC Business Daily in your feed after the budget lock-up!
Patricia Karvelas and Tom Crowley break it all down on Politics Now.
Got a burning question?
Send a short voice recording to PK and Fran for Question Time at [email protected]

There's been a seismic shift in the Australian political landscape, with One Nation claiming it's first ever lower-house seat.
The minor party's landslide victory in the former Coalition heartland of Farrer came with a warning shot from leader Pauline Hanson — "One Nation is coming for your seat next."
So, as the recriminations continue, PK and Jacob discuss if "operation Angus" has failed the Coalition and what base the party has left.
PK points out the party have lost their city heartland and now their regional heartland, while Jacob adds that the suburbs in areas like Western Sydney is exactly where One Nation has vowed to target next.
Meanwhile, across the pond UK Labour have been delivered a drubbing at local council elections, haemorrhaging seats to Nigel Farage's Reform party on the right and The Greens on the left. The diabolical result sends a warning sign for major parties of all stripes, including the Albanese government.
Patricia Karvelas and Jacob Greber break it all down on Politics Now.
Got a burning question?
Got a burning political query? Send a short voice recording to PK and Fran for Question Time at [email protected]

Farrer has been held by the Coalition for nearly 80 years but the seat looks almost certain to be won by One Nation's David Farley or Independent candidate Michelle Milthorpe.

Farrer has been held by the Coalition for nearly 80 years but the seat looks almost certain to be won by One Nation's David Farley or Independent candidate Michelle Milthorpe.