Albo wants to own all the houses himself so that he can tell everyone where they can live, just like in China.

American here, If your scumbag leftist government doesn't have any good policies they shouldn't be allowed to flood the country with ignorant aliens who will vote for them out of gratitude, meanwhile f****** their own citizens, Your brainwashed

If you’re not at least 4th gen Aussie you shouldn’t be able to buy property .

@@JaxThaStuntman Not enough. Only Our Beloved Government should own everything. Like in USSR. Commoners to live in rented colivings, eat roasted cockroaches and ride bike. With mass support from sheeple, of course, they will be happy to pay and repent.

​@@JaxThaStuntman Lol I like how you use the arbitrary 4 generations, because if you went farther, it would only be Aboriginals who can actually own land.

And all these taxes go to overpaid pollies.and huge public services

@@vernonwhite4660 actually it funds the deep state of America and their corrupt agendas ..

Please don't forget capital gains tax - brought in by Labor..grrrrr

@@tilkanash my bad. Taxs are just a way for the govenment to rob from the public legally. Taxing property owners triple tax should not be permitted. if anyone / company did the same invesitgation ACA would be after them.

lol. Minimum wages are not going up , if at all its less than 1%. the biggest increase in costs is corporate greed. 500 thousand immigrants last year. So many can afford to just buy a house. That leaves locals outrpiced

Those countries don't sign their country over to the UN. Russian Federation has no agreements with foreign globalists entities ie UN.

They are smarter.

All Asian countries are smarter than Australia although they are not necessary as rich

​@@ozibala And Australia is mainly rich from it's mineral wealth. If there is a large fall off in demand for them (mainly iron ore) we will be in BIG trouble!

Absolutely. Kids in Hong Kong, Korea and mainland cities at 9yo are ahead of 14yo Australian kids at mathematics. The kids in Australia are too busy seeing who can be the best sjw and who has the brightest hair

Plenty, you haven't done your research.

@@bretloyd8097 ...aussies can purchase only one property for the purpose of their dwelling....when they meet the criteria.

@@bretloyd8097you can purchase the house are you allowed to buy the land that you bought the house on ?? Do you have to be married to a born citizen..

@@Dash829foreigner is allowed to buy one property for own living in China but they are not allowed for investment. I know a couple from Singapore who work in China. They bought an apartment for own living. Of course land which apartment sit on is leased for 70 years. But government will allow auto lease without charge. This is good as people need not pay property tax or land tax comparing to US.

@@bretloyd8097 have you? you technically arent allowed to own land in china (citizens included), only the building...and even then its on a lease.

Which means except aboriginals all are foreigners

same goes everywhere else

@@kirannnnnn "Which means except aboriginals all are foreigners" Only if you are retarded...

@@kirannnnnn Oh, God please spare us your cliche self-righteous hippy gumbo.

Bit late

What are the other countries? How does the washing work?

Under our new communist government, nobody except Albo will be allowed to own property. Australia will end up being like soviet Russia under Stalin.

But they pay extra tax which helps our economy…..

@@kalencwil3924 It doesn't help anyone if they jack up the cost to rent because of that tax. Foreigners shouldn't be able to buy our land and houses, period.

@@kalencwil3924 wrong

​@@kalencwil3924we sent a billion dollars to Ukraine. How does that help our economy?

Bingo !!!

VERY SMART !!!! I work in Mortgage Backed Securities and support your idea

That would be too hard to control. Australia wouldn’t be able to control other countries changing their laws. Australia should ban foreign ownership of land (including the land under buildings). And limit foreign investment in buildings to new buildings with higher energy, safety, environmental and accessibility standards than the minimum. This way foreign investment would increase quality supply. Lastly there should be a strong empty property tax to maximise the use of properties.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

Jajajajaja

@@michaelobrien5366 IDIOT

Oh the throwback. 🤣

oh our grubermint hasn't forgotten them.....

@@kane-vn6bn that’s right, they have not forgotten the babies of Palestine. We need more kids in this country capable of growing and working without food. We’ll take em!

Need an empty property tax. And a tax on building too slowly after approvals. Supply of property and land shouldn’t be wasted.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

I agree. But what if this leads to reduced investment in building new homes? Perhaps negative gearing should be limited to new properties. Perhaps we need an empty property tax to maximise the use of existing properties.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

​@@JamielDeAbrewthe only reason they need more homes is because of the immigration, no immigration, no need for a mass building of houses

American here, So you want a penalize foreign investment, That's pretty brain dead and very communist of you. If your government wasn't so incompetent you wouldn't be even looking at this as a solution.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

We’re in a democracy (which I do believe is a good thing). That said, it does mean voters are to blame.

A high empty property tax is definitely needed. It should be high enough to force AirBnBs, hotels, motels and holiday homes to be rented on low demand days - even if at a loss. This would lead to some of these properties being converted back into long term rentals or sold to homebuyers.

There should be tax penalties for taking too long.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

Think about markets. What builder wouldn’t give a quote? If builders find a shortage of labour builders will simply quote a higher price. This higher price will empower builders to pay their employees higher rates. This will attract more workers into the construction employment market. I agree immigration is a large part of the problem. The issue Australia has is that without immigration the percentage of people on the age pension will increase. Without immigration the percentage of people in government funded age care will increase. Australia import workers so that there are more people paying income taxes. Australia law immigration, but Australia would also need to either taxation or decrease government spending. A national empty property tax would help to increase the usage of existing property supply.

@@JamielDeAbrew "What builder wouldn’t give a quote" .... the ones who have so much work they aren't interested in quoting for work they won't be able to touch for 12 to 18 months at the earliest (and by that time the quote will be out of date). And the ones who can't get tradies because they have so much work, charging whatever they like. As a generalisation, young people are reluctant to go into the building trades, it involves hard physical work. Oh and your Ponzi scheme (that's exactly what it is) to keep bringing in people to pay the taxes so older people get a free ride, is NO solution. There is just the same percentage of 'old people' in the immigration intake as the general population (called family reunion) and are you proposing the population size should just keep growing FOREVER. 100 Million people, 400 Million ..... there is no end to such a Ponzi scheme. Older Australians should have planned to look after themselves in older age. If they have nothing after the best year's Australia every had (mining booms, free education, etc, etc), is or likely to ever have, they deserve nothing. End of story. Making young Australians, many struggling to even buy a home, financially responsible for them is morally reprehensible. P.S. I'm 72 years old.

@@johnwoodrow8769 I agree with you 100% that it’s a population growth Ponzi scheme. Most countries have such a scheme (be it through immigration or through high birth rates). I would love to see Australia reduce (or stop) Australia’s population growth strategy. I don’t mind if Australia increases taxes to achieve it. I’m surprised the builders don’t just give higher priced quotes.

@@JamielDeAbrew As I said previously, with every increasing costs, builders don't want to be wasting their time preparing quotes for '30 days' when they know they have no chance of getting to the job for 12 months or more. On population size, I think Australia has already gone well past its optimum population size. I'd like to see no more than 20 million. Just stop ALL immigration and over time the population size will slowly sink back toward that level. No radical 1 or 2 child policy necessary. Just make people more aware that large families are NOT cool. It's really being environmentally and socially irresponsible. In the 1970's Australia had only half the number of people, and things worked just fine. It could be argued way better than now.

@@johnwoodrow8769 I agree that a radical 1 or 2 child policy isn’t needed. Normally as women get more educated, they have fewer children and children at a later age. The exception is the ultra wealthy. People with wealth above 50 million seem to have more children eg * Elton Musk has 11 children * Bernard Arnault has 5 * Jeff Bezos has 4 * etc…

Maybe change it so they can only purchase new builds. On land that hasn't had a dwelling on it previously.

Some say that foreign investment contributes to new supply. And that new supply is needed. Foreigners shouldn’t be allowed to own land (including the land under buildings). Limiting foreign ownership to new builds would help to increase supply. Supply that is empty doesn’t help. A national energy property tax would force supply onto the market.

How about we just ban immigration...cause we don't need it .

You forgot the bugs and caves. It’s not a proper delusional conspiracy if you don’t mention the bugs and caves.

I don't need to put them in Tinfoil. Intelligent People know what I mean. 😂

AND YOU WILL BE HAPPY

@@WitchDoctor.933 Everyone knows what you paranoid bedwetters mean dude.

@@julie-annehansen741 I would rather own plenty and be happy.

Just to play devil’s advocate. Some people argue that foreign investment finances new housing supply. The key is to limit foreign investment to new properties and not let foreigners buy land. This means foreigners could find the building of housing on top of locally owned land. Additionally, Australian needs a national empty property tax. This would make sure that supply is added to the market. Also Sky News is foreign owned.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

You'll also get hammered for CGT. There is no incentive for the boomers to subdivide their land either. The massive taxes is just a disincentive and the government plebs don't see this.

Sorry to hear of your plight. It's so ridiculous. It seems to me that most houses today are built on the cheap, and won't last the test of time. If it were me, I'd be considering a move to regional city/town and buying a house built last century that's still nice and solid. Doesn't suit evryone, though. Good luck.

Do your homework, I have made such decisions in the past and they were wrong. You may find a solution.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

@@saravananramaiya4406 On the surface, I like the sound of your plan. I'm no economics expert, but wouldn't what you suggest dramatically drop the value of existing homes? That sounds good, but what about people paying off a house that is suddenly worth far less. Nobody would tolerate that.

They but to make money from increases in land value.

Just to play devil’s advocate. Some people argue that foreign investment finances new housing supply. The key is to limit foreign investment to new properties and not let foreigners buy land. This means foreigners could find the building of housing on top of locally owned land. Additionally, Australian needs a national empty property tax. This would make sure that supply is added to the market.

@@AndrewEG Australian citizens living abroad should be able to buy property in Australia. But there should be a national vacant property tax. This way if a citizen living abroad buys property, they can’t leave the property empty (reducing supply). They could rent the property or even let family/friends stay there for free.

@@JamielDeAbrew one of the problems is that overseas investors are loaded up and out bidding Australians. People who are trying to get there first house are fighting against people that are loaded or are buying another house to add to there portfolio. If the property market keeps going at this place, you would be lucky to see any property under 7 figures, how is all of this sustainable, we both know wages are not increasing the same as real estate. New Zealand just brought in a law that no oversees investors can buy any houses, this needs to be done for Australia it there will be heaps of hard working families living out of tents whilst the rich will be living pretty with multiple houses.

@@JamielDeAbrew but what happens if the property isn't livable? As in structural problems that will be addressed when the citizen returns ? Or a house that was inherited that needs fixing. Vacant tax is in force in victoria but it doesn't apply to holiday homes. Another issue is that there are plenty of baby boomers who would consider subdividing their land but there is no financial incentive as they will be plugged with CGT.

@@AndrewEG if the property isn’t liveable, the options should be: * sell * renovate to make it liveable * demolish and rebuild People shouldn’t be allowed to hold land if a way that reduces land efficiency. Victoria’s vacancy tax isn’t far enough. The tax should be strong enough that AirBnBs, hotels, motels and holiday homes are leased on low demand days - even if at a loss. This will add supply to the market. It will also lead to some being converted to long term rentals. The vacancy tax also needs to apply to business real estate (offices, warehouses, retail and restaurant spaces etc… ). This will make it easier for businesses to survive. It will also maximise land efficiency by forcing real estate to adapt quickly. Eg currently there is an over supply of offices and an under supply of apartments. Such a tax would essentially force offices to be converted (at a high cost) into apartments to avoid being empty. Good point about CGT reform. It’s tricky though. Why should baby boomers get a discount? Eventually the government would get the CGT from them (or their children). Another issue is stamp duty disincentivising moving. Moving closer to work takes pressure off transportation infrastructure. Downsizing adds rooms to the market. People should have the option of a monthly land tax instead of stamp duty.

"market interventions always cause bigger problems" Market intervention is the sole cause of this problem. Go try and build a medium or high density building and see how difficult they make it to do. If government got out of the way, developers would happily build high rises everywhere and satisfy demand.

@@gooble69 yep

we are developers and 2 years ago stopped medium and high density developments. Any class 2 building good luck getting DA and if you do council then change the rules when you seek the OC even if you built to the CC perfectly. Many developers now only doing small developments, duplex & granny flats etc.

That’s dopey Albosleazy for you🙄

mass immigration

More than that going ass up

@@setogo198 Yes I used to watch the numbers of builders going broke reported on Florian Heise Channel, but even he gave up counting them after 12 months or so, it’s an epidemic. Lots of builders were losing big $ building homes signed up for at fixed price contracts during the first home builder grants when the pandemic supply chain shut downs & runaway inflation increased materials costs dramatically. They figured they can work their butt off and go broke or sit on a beach in Bali drinking Bintang beers & go broke, so chose the latter. If the Govt would just stay the eff out of the housing market, the market forces would eventually sort itself out with supply & demand. It’s Govt interference that screwed it all up. The builders were allowed to trade while insolvent through the pandemic & ATO didn’t chase them for unpaid tax at Government direction. Then when Pandemic was over they were no longer allowed to trade while insolvent, and the ATO turned around and came after their pound of flesh. Suddenly Cold cheap Bintangs in Bali looked a lot more attractive than losing money building fixed price contract homes in Australia.

The answer is in national empty property tax. The tax should be high enough that Airbnb hotels motels and holiday homes are rented on low demand nights even if this means they are rented at a loss this would lead to some being switched back to long-term rentals. To avoid an empty property tax on new builds developers could be slow to put the finishing touches on properties. All building approvals should be subject to a timeline. If a property is empty after that timeline, there should be a high tax.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

​@@JamielDeAbrew Lack of affordable construction workers are an issue as well. I have a mate in construction been telling me that half of his peers on site are foreigners and they're being paid peanuts for long hours just to be able to keep the business running. He's afraid he might lose his job from the business going under once their visas expire before site completion. Many of them have not been able to renew their visas most likely due to the crackdown on immigration numbers recently.

@@eat_ze_bugs when employees are paid peanuts, there is less incentive to invest in productivity (tools, machinery, software etc… ). Productivity and/or efficiency improvements are the key to sustainable wage growth at levels above inflation. When businesses illegally pay workers below the minimum wage, it hurts the whole system. The government gets less income tax, and less GST. This tax revenue could be used to finance tax cuts for honest people. When there is a lack of workers in any sector, something great happens… The industry has to pay more to get the existing workers. Over time, people see how well these workers are being paid. They see it by witnessing the workers spending their money. This leads to some people changing industries to get this higher pay. As more people change industries to get the higher pay, the shortage reduces. As the shortage reduces, the pay reduces (while staying above minimum wage). People don’t lose jobs due to a worker shortage, they get paid more. If the company he works for goes under, he will be able to get a job for another company. If your friend is worried, he should start applying for jobs elsewhere (while he still has a job). He should move to a company that that doesn’t have systems reliant on under paying workers. He should ideally move to a company with a culture of continuously improving productivity and efficiency. Such a company will survive wage increases while its competitors fail.

@@JamielDeAbrew As I recalled correctly he said the migrants are being paid below industry standards, not below minimum wage. I'm not sure if his current situation is unique to his company but if I can guess many small builders are likely facing the same situation trying to offset increased cost of materials with cheap migrant labourers.

The solution is an empty property tax. This tax wouldn’t only help with empty foreign owned buildings. It would also help with empty locally own buildings. Additionally, all building approvals should have timelines attached. There should be penalties if the building is unfinished. After this timeline. The penalties should exponentially get greater longer the delay.

We are in a recession too, but only for the fast food takeaway drivers saved our bacon ! Good plan Labor!

I agree. The tricky thing is Australia uses immigration to increase the percentage of people paying income tax. This reduces the percentage of people who are receiving the aged pension and government funded aged care.

Let them eat turnips.

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

@@saravananramaiya4406 because they worked hard from the 1960's

@@saravananramaiya4406 they worked hard

More than 50% of the population owns property. The NIMBY’s probably wouldn’t support a Tokyo style reduction of red tape.

Why can foreigners vote?

What I expect it’s a little bit more complicated is immigration. In Australia there’s a ratio of people paying income taxes to people that receive the age pension from the government Australia uses immigration to increase the percentage of the population who are paying income taxes as opposed to receiving the age pension.

Another hair brained idea. Who wants to live next to something that is dangerous?

One issue is foreign investment can pay for new properties to be built. So foreign investment can add to supply. Australia does need an empty property tax. This tax would ensure that supply gets into the market and is used. The tax should be so high that practically no one would pay it. So high that they would rather sell or lease at a loss than pay the crazy high tax. Foreign land ownership should be banned. This way all foreign property investment would go into the buildings, not the land.

@@JamielDeAbrew under communism no one own homes moron , socialsim not the solution to more people owning a home

A really high empty property tax is needed

Why companies, superannuation companies, property trust companies, rich mum and dad local investors are allowed to buy more than one established investment property, they are hoarders. First priority must be for first home buyers, then mum and dad individuals for their first established investment property. Hoarders could be allowed to purchase new built homes

no they cant , why homes cost more to build is becasue of government taking more idiot from taxes

What solution do you propose?

@@JamielDeAbrew far less hiden taxes then more can own a home idiot

@JamielDeAbrew the second part of his interview was probably his best. Drop the over regulation. streamline building councils. reduce stamp duty. increase kickbacks for taking on apprentices. reduce the energy star rating to make building cheaper. and many more. as someone who works in the industry I am frustrated at how hard the government makes to build something.

And start taxing natural resources like Norway.

@@JamielDeAbrew communsit retard there 80% public housing in norway how that home ownership

A bigger reason is that more than 50% of the Australian voting population owns Property. These voters feel good when they see the value of their property assets increasing. Any government policy that led to property prices decreasing would cost the government the election. So government try to achieve the happy medium for their electability. They want house prices to rise above inflation levels but not too much that renters revolt.

@@JamielDeAbrew I own several properties outright. When property values go up so does my rates and insurance. Rent doesn't rise as fast as inflation, so every year it nibbles a little more away from my net gains. My statement about politicians investing heavily in real estate is true, therefore I stand by my statement. If I owed money on my properties it would exacerbate the problem greatly.

And they probably get government benefits! Best talking to someone at a bank that can tell you “off the record” how much financial assistance immigrants get from the government & housing!

Then I guess we need to use land materials and building labour more efficiently. I guess this means we need national vacant property tax.

@@JamielDeAbrew that will push rents up communist moron

What is foreign investors are building new properties. Then investors are adding supply to the market. A compromise could be preventing non-citizens from buying land including land under buildings.

@@JamielDeAbrew Foreign developers are the ones that build the huge high rises towers around Sydney Train metro centres mostly as close to train stations as possible they not the developers of houses or housing estates. Most that buy or rent in these mega expensive high rises are not citizens however those on work visa they are not reliable residents and could leave the country at any time unlike citizens whom make effort to call Australia home.

grubermint is at war with Australians, didn't you know?

@@kane-vn6bn sad

U can get roughly 5 percent in the bank before tax these days. Property only issue is the liabilities incurred that aren't taxable treated. Govt stepping in and getting a cut of the appreciation action is horrific

Yeah ah no new legislation climate legislation has added at least forty grand to the price of a house not to mention australia dose not produce much steel , bricks, wiring , pipes, timber most of it is imported and more expensive due to a lousy Australian dollar

"How can it possibly be too expensive to build a home? " Regulations, regulations and more regulations. Every time the gov interferes it just adds cost and risk to everything. Climate and employment policies have driven costs up massively.

@@gooble69 sorry but that's not valid, as those regulations have been in place for years and decades. So, they are NOT an EXTRA burden but one that has been largely constant. So my statement still stands. Which climate policy has specifically targeted housing for increased costs? Which employment policies? I'm not 100% up to date with an ever-changing landscape, but have any of those variables changed so radically in the past couple of years to make building not profitable? I find that impossible to believe unless you can point me to specific examples.

@@FuzzyBearYT you are wrong, regs and gov taxes and fees have gone up substantially ad are sill going up on building, when did you last build???

@@kane-vn6bn This is why I was asking for some examples of recent legislation that so radically changed the cost of building. I'm not in the industry, so not up to speed on the very latest developments. My question would be, what kind of moron would decide, 'oh we have a housing cris, so let's increase the cost to build' ???

This issue began in 1996...

@@AndrewEG 1987 under bob hawke left retard

Building property doesn’t happen overnight. Training tradies doesn’t happen overnight. This is an issue that’s been growing for decades.

Conservative women are the hottest 🔥

Is she ever. It beats the pink and green haired feminists or mentally ill on so many other shows. The ABC filled with arts graduates who live in sheltered workshops and who wouldn't know nothing outside of the CBD

😮😂🥰😋

Fucking A my fav

What…?

@@wesleyyoung1082what do you mean what? Have you not seen the quality of any new builds that have gone up in recent years?

There could be a ban on companies with any foreign shareholders owning land (including land under buildings). There could also be a public registry where the names of company and trust shareholders are published. When a company owns a company, the shareholders of that company would need to be punished.

@@JamielDeAbrew possibly , but then that includes mining companies , retail and fast food chains like maccas, KFC and also retail giants .. essentially , it would mean Australia would be empty cause we don't have our own fastfood chains like maccas etc (who own alot of the property their outlets are on) .. cause all those companies have foreign , most probably American shareholders at the top .. also mining companies would also have foreign share holders, cause let's face it, there isn't enough capital in Australia to support those activities so foreign money is also invested too .. even if it's a minority ... I've seen all this before play out in various places ... Problem is Australia property is too attractive an investment cause as bad as it is, Aussies who can't afford it and shouldn't own it will sacrifice 30 years of their life to buy it ..what needs to change is how wealth is built, when you shift that from property ownership to business and value creation, the focus will change and more money will flood to Australia to support businesses .. if I'm not mistaken last year VC funding amounted to 4billion $ in Australia .. that is so sad, no one sees getting rich via value a business creation a thing anymore .. what you do in aus is buy property and rent it out. In the US and some areas of SEA 4 billion could go into one large Unicorn company .. 1 company ! Imagine that .. in aus that was the total investment. If VC was a thing here there would be more job creation, we would export high tech goods / software etc and Aussies would be rich from sustainable endeavours .. NOT property .. anyhow, we can only hope gov sees this and changes policy to move into this direction. Granted that yeah we need to start from policies and tax benefits, but those alone won't do the trick, the whole economy needs to change and how to get rich has to change from the current alpha generation and onwards

@@sia.b6184 fantastic response!

@@sia.b6184 We have enough corporates in Australia and most are only here to hire foreigners on work visa and gain more shareholders and more global profits they are mostly in financial serivces and tech serivces to these some big companies and offer very little real benefit to average Australians.(Citizens. ) Ill also mention their stupid woke corporate attitides as bad Universities and Communists. SMES and small business are everywhere in Australia not just big cities and do more for the average Australian.

@@jeffpliskin Well depends, what I refer to is that those corporates need to be home grown. Australia needs its own Telsa, its own google, its own facebook type companies. We recently got Canva which is Australian grown, employees lots of Australians, just made many of the early employees wealthy, who pays its taxes here and employs highly skilled people. Also all the surrounding SME's around them selling coffees, clothes and other things benefit also. So if you are referring to large corporations from outside coming into Australia I somewhat agree, but home grown ones through proper VC funding and changing how people see the process of getting wealthy needs to change. Those canva founders and early employees are all multi millionaires now, they can invest in new busineses locally , we just don't have enough of them. You can probably count how many we have in 1 hand.