*[…] Step back from the noise and the tune becomes clearer: Labor is exercising the power of the historic mandate secured a year ago by expending political capital to unwind the pro-wealth settings that were the enduring legacy of the Howard era.*
*To do so successfully it needs to win three strategic contests: get past the promise it has broken, demonstrate a real impact on the material wellbeing of young people and tap into a broader collective economic consciousness.*
*This week’s Guardian Essential Report does not purport to predict how these three parallel battles will conclude but it is illuminating in setting the lines of engagement.*
*On the issue of “changing one’s position” it seems that, for many, the breaking of election commitments is now baked into the system as acceptable, provided there is a compelling justification.*
*[…] The second key battle is over the substantive changes these measures seek to address: the way the housing market has built an unconscionable stratification of investors, first home buyers and renters.*
*The challenge for the government here is that when asked about complex tax changes which are only really understood by the people who access them, many people just don’t know whether the changes are good or bad.*
*It will take heart from the fact that its fairness argument is landing best with young people but these numbers show there is substantial work to do in bringing the changes to life for this key audience.*
*The best thing going for Labor is the high dudgeon of the likes of News Corp, also the largest shareholder of Australia’s premier real estate platform. Its constant attacks reinforce the message that Labor is doing something meaningful.*
*The broader challenge for the government is to show how the incremental unwinding of these tax concessions has a real impact on the problems afflicting young buyers and renters.*
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Excerpts from [article](https://www.theguardian.com/australia-news/commentisfree/2026/may/27/labor-budget-reaction-support-opinion-guardian-essential-poll-news-corp-noise-ai-memes) by Peter Lewis:
*[…] Step back from the noise and the tune becomes clearer: Labor is exercising the power of the historic mandate secured a year ago by expending political capital to unwind the pro-wealth settings that were the enduring legacy of the Howard era.*
*To do so successfully it needs to win three strategic contests: get past the promise it has broken, demonstrate a real impact on the material wellbeing of young people and tap into a broader collective economic consciousness.*
*This week’s Guardian Essential Report does not purport to predict how these three parallel battles will conclude but it is illuminating in setting the lines of engagement.*
*On the issue of “changing one’s position” it seems that, for many, the breaking of election commitments is now baked into the system as acceptable, provided there is a compelling justification.*
*[…] The second key battle is over the substantive changes these measures seek to address: the way the housing market has built an unconscionable stratification of investors, first home buyers and renters.*
*The challenge for the government here is that when asked about complex tax changes which are only really understood by the people who access them, many people just don’t know whether the changes are good or bad.*
*It will take heart from the fact that its fairness argument is landing best with young people but these numbers show there is substantial work to do in bringing the changes to life for this key audience.*
*The best thing going for Labor is the high dudgeon of the likes of News Corp, also the largest shareholder of Australia’s premier real estate platform. Its constant attacks reinforce the message that Labor is doing something meaningful.*
*The broader challenge for the government is to show how the incremental unwinding of these tax concessions has a real impact on the problems afflicting young buyers and renters.*