The Prime Minister admits One Nation’s surge forced tax reforms, acknowledging voter anger can’t be ignored—yet Treasury’s analysis warns their plan could worsen market distortions. Amid global economic pressures and stalled investment, the government’s new capital gains and negative gearing rules aim to steer investment toward real economic sense, not tax loopholes. But younger voters, key to the reforms’ success, are flocking to One Nation instead—leaving the Senate to scrutinize a strategy that may have backfired.

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