MEDIA RELEASE 13 May 2026
Federal Member for Fisher, Andrew Wallace MP, says the Albanese Government’s 2026-27 Federal Budget is another crushing blow for the Sunshine Coast, delivering more taxes, more debt, lower living standards and more broken promises, while once again leaving Fisher at the back of the queue.
Mr Wallace said the Budget confirmed Anthony Albanese had once again breached trust with the Australian people through sweeping housing tax changes and what he described as a massive new tax grab.
“This Budget is full of Labor lies,” Mr Wallace said.
“These are the housing tax policies that Bill Shorten took to the election in 2019 and lost. But at least Bill Shorten had the courage to take them to an election.
“Anthony Albanese has yet again breached trust with the Australian people after saying 50 times that he would not introduce these housing tax changes which are nothing more than a tax grab.
“They will not help more young Australians get into housing. They will not reduce the cost of housing. Just as it did in the 1980s, the changes to Negative Gearing will actually drive the costs of rent up.
“Australians have been lied to yet again by this Labor Government and now we will be collectively paying $77 Billion more in taxes as a result.
“This budget delivers the largest re-distribution of wealth in this country since the Whitlam Government. This budget is not about ‘intergenerational equity’, its socialism pure and simple.
“These changes do not just affect wealthy investors, they affect Sunshine Coast tradies, small business owners and working Australians trying to get ahead.”
Mr Wallace said despite strong advocacy and submissions ahead of the Budget, not a single major Sunshine Coast infrastructure project received a direct funding commitment.
“This Budget proves once again that under Labor, the Sunshine Coast is being overlooked and left behind,” he said.
“The Sunshine Coast is one of the fastest growing regions in Australia, yet there is not a single dollar specifically committed to the critical projects our community desperately needs. In fact, all we have seen under this Labor Government are cuts, cuts and more cuts to previously Coalition funded infrastructure, like the Mooloolah River Interchange and the second access route into Caloundra.”
Mr Wallace said he had been fighting alongside the Sunshine Coast Council and the Crisafulli LNP Government for practical projects to address congestion, housing stress, workforce shortages and long-term economic growth, including WAVE stages 2 and 3, Bruce Highway upgrades between Steve Irwin Way and Caloundra Road, the Sunshine Coast Regional Indoor Community Sports Centre,a Medical School for UniSC and a Manufacturing Hub to assist small manufacturing businesses.
“These are essential projects for a rapidly growing region preparing for the 2032 Olympics and trying to keep up with population growth and pressure on local infrastructure and services,” he said.
“Labor talks endlessly about growth and infrastructure, but when it comes time to actually invest in the Sunshine Coast, our community gets cuts and ignored yet again.”
Mr Wallace said the Budget also confirmed Anthony Albanese had broken key election promises through new taxes and major changes to discretionary trusts and private health insurance rebates for older Australians.
Mr Wallace also slammed Labor’s decision to remove the age-based uplift on the Private Health Insurance Rebate from April 2027.
“Fisher has one of the largest retiree populations in the nation, and Labor’s private health rebate changes will leave some older Australians paying more than $1,600 extra each year for their health insurance,” he said.
“This is Labor’s health tax on seniors, plain and simple.”
Mr Wallace said Australians were continuing to go backwards economically under the Albanese Government, while Labor’s Budget repair was heavily reliant on slowing growth in the NDIS.
“Australians are working harder but going backwards under this Government,” he said.
“Families across Fisher are battling higher mortgages, groceries, fuel and insurance costs, while participants, families and providers are already under enormous pressure within the NDIS system.”
“Mental health continues to take more Australian lives every year than the national road toll, yet communities like the Sunshine Coast still face workforce shortages and difficulty accessing support,” he said.
Mr Wallace said Australians were increasingly losing trust in the Albanese Government.
“This Budget is built on higher taxes, broken promises and asking Australians to pay more while getting less,” he said.
“Anthony Albanese promised Australians certainty and stability before the election. Instead, Australians have been handed more debt, more taxes and more pressure on household budgets.”
Mr Wallace said the Coalition would continue fighting for Fisher’s fair share.
“Over the last decade, Llew O’Brien, Ted O’Brien, Terry Young and I worked together as part the LNP to deliver billions in federal investment right across the Sunshine Coast region and surrounding communities, including more than $7.2 billion I secured for Fisher, proving our region is far better off under a Coalition Government,” he said.
“I will continue fighting every single day to make Fisher the best place in Australia to learn, earn and retire, because our community deserves far better than what Labor delivered last night.”
[ENDS]
BUDGET SNAPSHOT | KEY FIGURES & HIGHLIGHTS
• $77 billion in higher net taxes
• Debt forecast to hit $1.25 trillion
• Interest repayments forecast to exceed $42 billion annually by the end of the decade
• Labor’s housing taxes projected to reduce housing supply by 35,000 homes nationally
• Inflation forecast to hit 5 per cent and possibly even 7% if the price of oil hits $200 a barrell
• Real wages and living standards continue to decline under Labor
• Labor projected to bring 2 million migrants into Australia across its first two terms
• 90,000 additional migrants above previous targets over the next two years
• No funding was identified for Sunshine Coast infrastructure and community projects.
• Labor’s private health rebate changes will cost some retirees more than $1,600 extra per year.
• Labor’s Budget repair heavily relies on slowing NDIS spending growth
• More than 3,000 Australians die by suicide each year despite growing mental health demand.
• The former Coalition Government secured more than $7.2 billion for Fisher
A VNR is available here.
Media Contact: Brendan West – 0402 556 646 – Brendan.west@aph.gov.au
