Australia news live: Pocock buys billboards to pressure Chalmers on gas export tax; survey reveals national gloom

ACT independent David Pocock is calling for a 25% tax on gas exports to fund welfare and housing. Follow today’s news live

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Labor should use the proceeds of limiting tax concessions for property investors and a crackdown on gas export profits to fund welfare increases and build housing, charities and social service groups say.

Ahead of next month’s federal budget, the Albanese government is under pressure to wind back negative gearing rules and the 50% capital gains tax discount for property investments, and to tax more of the profits from soaring commodity exports, pushed up by the global energy shock.

People on the lowest incomes are skipping meals, delaying medical care and rationing energy just to get by.

Frontline services are operating at capacity, facing growing demand and increasingly complex needs. Current policy settings are not meeting the needs of our communities – it’s clear that significant and sustained public investment is essential.