Australia politics live: Labor’s big reforms face test as parliament returns; national cabinet to debate fuel security

MPs return to Canberra for two weeks of haggling over tax and NDIS reforms before the winter break. Follow today’s news live

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Labor faces heat over cooling house prices

Labor MPs are facing a slate of questions over falling house prices in some capital cities – which means they’re walking a bit of a messaging tightrope between wanting younger people to get into housing, and ensuring that people who already own housing don’t go way backwards.

Allowing young Australians, in particular, to get into the housing market for the first time, was the central focus of our budget, and that’s why we put forward those changes around both negative gearing and capital gains tax.

We’re not surprised to see some level of cooling in auction markets. And if that makes it more possible for Australians to get into the housing market for the first time, that’s a good thing.
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