Beer, gas and capital gains tax

<p>In Canberra, a fight both major parties have tried to avoid is back.</p> <p>The Senate is examining the capital gains tax discount &ndash; the Howard-era change that slashed tax on asset profits and helped turn housing into a national obsession.</p> <p>It&rsquo;s long been considered untouchable, especially after Labor&rsquo;s bruising 2019 election defeat. But with house prices entrenched, inequality rising and the budget under strain, pressure is building on the government to do something.</p> <p>Today, economist and Executive Director of the Australia Institute Richard Denniss, on why the concession exists, the vested interests resisting change, and whether the politics around it are finally shifting.</p> <p>&nbsp;</p> <p>If you enjoy <em>7am</em>, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.</p> <p>&nbsp;</p> <p><strong>Socials:</strong><strong> </strong>Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a></p> <p><strong>Guest:</strong> Executive Director of the Australia Institute, Richard Denniss</p> <p><strong>Photo:&nbsp;</strong>EPA/LUONG THAI LINH</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>