Australian PM Albanese advances tax reform and renewable energy target

Prime Minister Anthony Albanese announced that the Labor government’s tax package has passed parliament, including a grandfathering provision that leaves existing negatively‑geared property investments unchanged. The government says the reform will reshape the economy, lessen inter‑generational and within‑generation inequality, and shift long‑standing housing‑market expectations.

Albanese also highlighted the rise of Australia’s renewable energy supply, noting that the mandatory renewable target now provides more than half of the nation’s electricity. He urged an end to the “ridiculous debate” over renewables, framing the shift as part of a broader consensus‑building approach in his administration.

The prime minister described consensus as “listening, negotiating and moving forward to an outcome,” signalling a change in the government’s rhetoric toward acknowledging systemic issues and steering public perception.