Treasurer Jim Chalmers indicated that the Cabinet may consider limiting negative gearing to two investment properties and reducing the capital gains tax discount from 50 percent to 33 percent as part of strategies to address rising government spending and inter-generational inequality in the housing market. While real estate experts and unions have voiced varying opinions on these proposals, opposition leader Angus Taylor criticized them for potentially reducing housing supply. The government is facing a significant budget deficit, further complicating fiscal policy.
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