Sometimes I think that Sussan Ley and the Liberals’ big problem is that Labor has stolen their clothes. What the Liberals stood for in the good old days was minimum change. Only when changes could no longer be avoided were they made. The Libs’ big selling point was: “Vote for us to keep Labor out. Labor’s never happy unless it’s ‘reforming’ something.”

Well, not any more. Under the leadership of Anthony Albanese, Labor has lost its reforming zeal. It knows we have plenty of problems, and would like to do something about them, but not yet.

Illustration by Simon LetchCredit:

Albanese always has a reason for caution. Having lost the 2019 election against Scott Morrison that many thought it would win, Labor’s been in living in fear of that three-letter word “tax”.

Along with its policy to help first home buyers by restricting property investors’ use of negative gearing, Labor planned to help pay for its promises by making a small change to the “franking credits” that go to people who own shares.

Its Liberal opponents made this sound like Labor was planning an almighty tax grab, and Labor lost the election. Now that frightening three-letter word never passes its lips.

To ensure he won the 2022 election, Albanese made Labor a “small target”, promising to do a few nice things, but nothing nasty. The plan to fix negative gearing was gone, as was any threat to franking credits.

Once in power, Albanese discovered another reason for not doing anything someone mightn’t like. He’d won with a very narrow majority, so had to focus........

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