Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

On the question around taxes on the family home, we understand the importance of the family home, and it will remain exempt from capital gains tax. I think the Prime Minister and the Treasurer have made that clear in recent weeks, and our position on stage 3 hasn't changed. On the spending side, I think we do need to acknowledge that a significant amount—the vast proportion—of spending in the Commonwealth budget is in payments through our social security system and payments to the states and territories. These are significant parts of the budget. When people say they want to see big cuts to things, they have to understand that that means big cuts to social programs that people value or payments to the states and territories. We are fiscally responsible. We do have an eye on budget repair. But we're going to be cautious about how we approach it, because we know people rely on services that the Australian budget funds. (Time expired)