Live: Shadow treasurer says CGT inquiry 'running roughshod over democracy'

Shadow Treasurer Tim Wilson says the two-day Senate inquiry into the government's budget measures is "running roughshod over democracy".

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Tue 16 Jun 2026 at 8:04am

Tue 16 Jun 2026 at 8:04am

Minister says review will be undertaken into government contracts with KPMG

By Joshua Boscaini

Finance Minister Katy Gallagher says there will be a review into KPMG's engagement with Commonwealth contracts.

The firm is being investigated by the corporate watchdog ASIC over claims it misused confidential client information and then mistreated an internal whistleblower.

Speaking to ABC Radio National Breakfast, Gallagher says KPMG is stopping bidding for work with the Commonwealth.

But she says that doesn't extend to current contracts.

"I should say that we haven't got any evidence before us that some of the conduct that's been dealt with or explained through the media has related to Commonwealth contracts, but we are being very proactive about this," Gallagher says.

"We expect suppliers who earn the privilege of working for the public should have the highest ethical standards."

Tue 16 Jun 2026 at 7:56am

Tue 16 Jun 2026 at 7:56am

Gallagher says government is monitoring oil prices in Middle East after ceasefire deal

By Joshua Boscaini

Finance Minister Katy Gallagher has joined ABC Radio National Breakfast, where she's been asked what the government plans to do with the fuel excise rebate, which ends at the end of June.

The prime minister flagged yesterday that the federal government will make a call on the fuel excise within the next week.

Asked if the government could remove the excise cut if oil prices stay down following the US-Iran ceasefire agreement, Gallagher says we'll have to see what happens.

The finance minister says the government is monitoring events in the Middle East and what happens with the price of petrol.

"Let's see what happens from the agreement that's been reached in the Middle East. We saw the price of oil fall quite a bit yesterday, but it has been moving around a bit over the last couple of months," Gallagher says.

"This is something we keep under active consideration. We want to help people with these kind of sharp hits to household budgets."

Tue 16 Jun 2026 at 7:38am

Tue 16 Jun 2026 at 7:38am

Fuel excise decision under 'active consideration': finance minister

By Joshua Boscaini

Finance Minister Katy Gallagher is doing a blitz of media and has moved to Channel Seven, where she's been asked about the fuel excise.

The rebate, which was halved in April amid soaring global oil prices following the closure of the Strait of Hormuz, is set to expire on June 30.

Prime Minister Anthony Albanese yesterday flagged the government would make a call on the fuel excise rebate within the next week.

Speaking to Channel Seven, Gallagher says the matter is under "active consideration".

"I think the PM reflected on that yesterday. Petrol prices have come down quite a bit in most capital cities," Gallagher says.

"They're below where they were at the beginning of the war, and that's because the fuel excise has helped, but also because the price of oil has come down. And we saw that with the announcement of the conflict and a ceasefire yesterday, the oil price really did go down again, which is really welcome."

Tue 16 Jun 2026 at 7:30am

Tue 16 Jun 2026 at 7:30am

Katy Gallagher on the defensive on budget changes amid Senate inquiry

By Joshua Boscaini

Finance Minister Katy Gallagher has been on the defensive about the federal government's changes to negative gearing and capital gains tax.

A two-day inquiry into the government's budget measures wraps up today and will report back in time for the next sitting week.

Speaking to Channel Nine, Gallagher says there needs to be a number of interventions, including to tax, to make sure there's enough homes.

Asked about the rise of One Nation, the finance minister has stuck to the talking points and says polls come and go, but that the government wants to focus on the job.

"There's a lot of uncertainty and a lot of worry about what's happening in the world and we have to not only deal with that, but we have to make sure that we're trying to provide the solutions people need for those problems, and that's what this budget tries to do," Gallagher says.

"We know there's a lot of political opposition to that, including from One Nation and from the conservative side of politics."

Tue 16 Jun 2026 at 7:16am

Tue 16 Jun 2026 at 7:16am

Rishworth and Wilson clash over CGT inquiry in fiery exchange

By Joshua Boscaini

Workplace Relations Minister Amanda Rishworth and Shadow Treasurer Tim Wilson have clashed on Channel Nine about a Senate inquiry on Labor's budget measures.

Rishworth was defending the two-day inquiry, which is due to report back by the next sitting week, when Wilson repeatedly interjects.

"Anyone has had an opportunity to put in a submission to the inquiry, and of course, there have been a number of witnesses over the two days," Rishworth says.

"Oh, get real, Amanda," Wilson interjects.

But the panel gets quite fiery when the shadow treasurer accuses Labor of lying for not taking changes to capital gains tax and negative gearing to the last election.

"You didn't give it to people at the last election. You lied before the Australian people before the last election and now ramming this through the parliament," Wilson says.

"That is not true. I am going to stop you right there. This is just ridiculous," Rishworth says over the top of Wilson.

Tue 16 Jun 2026 at 7:08am

Tue 16 Jun 2026 at 7:08am

Tim Wilson says snap CGT inquiry 'running rough shod over democracy'

By Jake Evans

The Coalition has not given up on trying to extend the brief, two-day hearing into the largest shake-up of Australia's tax system in years.

The second day of hearings is set to begin, but Shadow Treasurer Tim Wilson told 7.30 last night that the snap inquiry was shutting out voices from the debate, with no other pathway to have their say.

With the federal government eager to pass legislation to tighten the capital gains tax discount as early as possible, the Greens agreed to a short inquiry that would allow the CGT bill to be put to a vote before the end of this financial year — an early indicator of their readiness to support the changes.

However, the Greens also want a longer inquiry into the government's plans to save billions in NDIS spending by tightening access to the scheme — a proposal the Coalition has given in-principle support to, and that the government also wants passed quickly.

Wilson floated the idea that the Coalition could horse-trade with the Greens to force an extension of both inquiries, potentially derailing the government's planned timelines.

"This government is running roughshod over our democracy. They're silencing voices in parliamentary processes. There's a compelling case we need to have a proper discussion about both matters before the parliament. In the end, it will give the maximum pathway for Australians to have their say," he told 7.30

"Conversations will continue to be ongoing until there's no pathway forward."

Tue 16 Jun 2026 at 7:01am

Tue 16 Jun 2026 at 7:01am

Good morning 👋

By Joshua Boscaini

Hello, and welcome to our federal politics live blog. It's great to have you with us early this Tuesday morning!

I'm Josh Boscaini, joining you live from Parliament House in Canberra, and ready to bring you all of today's federal politics news.

The Reserve Bank will deliver its interest rate decision today following the announcement that the US and Iran have reached a ceasefire deal.

Let's march right into the day and see what it brings us!