Australia's Budget Blues: Tax Overhaul Sparks Voter Backlash

Australia's centre-left government is facing strong voter backlash after breaking election promises by introducing major changes to investment taxes, as reported in two key polls.

Criticism is mounting over the policies aimed at limiting capital gains tax discounts and negative gearing, which voters believe favor older, wealthier investors. A Newspoll found nearly half of respondents felt the budget was detrimental to the economy and housing measures misguided.

Prime Minister Anthony Albanese's popularity holds steady despite the unrest, but opposition leader Angus Taylor saw a slight increase in approval. The budget especially alienated older voters and property investors while impacting Labor's primary vote and boosting support for the far-right One Nation party.

(With inputs from agencies.)