Australia politics live: bank expects home price reduction from budget to be more than twice government forecast

<p>Commonwealth Bank economists expect 5% drag on home prices from tax changes, compared with Treasury forecast of 2%. Follow today’s news live</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p><strong>Farrell rebukes Trump administration’s latest tariffs</strong></p><p>The trade minister, <strong>Don Farrell</strong>, has pushed back on <strong>Donald Trump</strong>’s latest round of sanctions, telling his US counterpart the targeting of Australian imports is unjustified.</p><p>The Liberals, the Nationals, and One Nation are openly discussing being a right-wing partnership. Increasingly, we see them mould into one point of view.</p><p>For the Labor Party, we will always give voters respect and we’ll always look towards how we can deliver higher wages, how we can decrease their income taxes, how we can be a party of reform.</p> <a href="https://www.theguardian.com/australia-news/live/2026/jun/04/australia-politics-live-capital-gains-tax-property-prices-economy-budget-jim-chalmers-anthony-albanese-angus-taylor-pauline-hanson-senate-estimates-question-time-ntwnfb">Continue reading...</a>