Dave Hughes rages against 'idiots' in Albanese government as he accuses PM of 'tanking housing market': 'They lied to Australia'

Dave Hughes has doubled down on his anger at Prime Minister Anthony Albanese over the growing Australian housing crisis.

The comedian, 55, lashed out at the Labor government over changes to negative gearing and the 50 per cent capital gains tax on Wednesday, and continued to share his anger in an interview on the Today show on Thursday. 

'Guys, they lied to Australia and you cannot do that,' Hughes said. 

'This has cost the whole country so much money already, the housing market has tanked, they've cost every Australian who owns a home probably 15 per cent of their housing value, you can't lie about that Jim and Albo, you can't do that.'

Hughes called the Albanese government an 'absolute disgrace' and said their decision will cause the economy to suffer. 

'The people in charge of our country are idiots, they treat our money like they found it in a sack by the river and they've got to spend it before someone finds out,' he said.

'The Federal Government is $1 trillion in debt, I get on planes and I walk past them, and they're all in business class because they couldn't care less about being $1 trillion in debt... it's not their money... what do they care?'

Hughes slammed the government as spending money 'like drunken sailors'.

'It actually affects everyone because hardworking people have to earn that money and you take half off them and blow it on absolute rubbish, it's annoying,' Hughes said.

'We are sick of them stealing our money and especially for first homebuyers. 

'I heard Albo on the radio yesterday and he said they don't have to be citizens to take advantage of the first homebuyers scheme, because some countries don't allow dual citizenship, so basically there are over 50,000 people bidding against Australians at auctions, who don't want to give up citizenship of their home country and he has given them our money to buy houses in Australia.

'I am happy for you to stay here, or if you want to go home you can go home, but you are not getting our money to buy houses here… that's insane.' 

Hughes earlier this week accused Albanese of benefiting from generous property tax breaks before his government moved to abolish those concessions.

'Albo got even luckier than I thought he did,' Hughes said in a social media video.

Hughes claimed that Albanese used negative gearing and the 50 per cent capital gains tax discount to build wealth through a string of investment properties, before selling them and then backing changes to the tax concessions.

In the May Budget, the Albanese Government moved to restrict negative gearing to new build properties and scrap the 50 per cent capital gains tax discount - the same tax concessions Hughes claims Albanese personally benefited from before the changes were introduced. 

In recent years, Albanese has sold several investment properties for substantial profits and has openly acknowledged benefiting from negative gearing.

He sold a Dulwich Hill townhouse in late 2024 for about $1.75 million, around $575,000 more than he paid for it in 2015.

Earlier, he and former wife Carmel Tebbutt sold a Marrickville rental property for $2.35 million, almost double its purchase price.

He also sold a Canberra apartment in 2022 for about four times what he originally paid.

Albanese still owns homes in Marrickville and on the NSW Central Coast, both of which are held as residences rather than investment properties.

Hughes claimed the Prime Minister had timed his property sales perfectly, cashing out after benefiting from generous tax concessions and before his government moved to abolish them.

'He sells his four investment properties, they've got all the negative gearing advantages and sold them at a tidy profit,' he continued. 

'They got the full capital gains tax discount, so that's fantastic for Albo – all before the position changed, so that was just incredibly lucky for the man.'

Hughes claimed that after cashing out of his investment properties, Albanese avoided investments that could be affected by the proposed tax changes and instead put his money into a family home, which is exempt from capital gains tax.

The house Hughes was referring to is Albanese's $4.3 million coastal property in Copacabana on the NSW Central Coast, which is expected to be exempt from capital gains tax because it will become his primary residence.

'Someone else pointed out that your primary residence has no capital gains tax at all, so, oh my god, how lucky did our selfless leader for the battlers get?'

Hughes argued that luxury homes are less exposed to broader housing market downturns than ordinary investment properties.

'I know I've been saying that all property is going to go down.

'It already has, but experts say the only segment of the market that won't be too affected is the luxury housing segment, because no one's really buying those properties as investments or anything.'

He claimed Albanese sold his investment properties before the policy changes took effect and then moved his money into an asset that would not be affected by those changes.

'He sold his four investment properties to battlers, and then they've all gone down in value because the position [on capital gains taxes and negative gearing] changed, and he put all his money into the only investment that doesn't attract capital gains tax – his primary residence.

'It's not even affected by these changes at all.'

Hughes also took aim at Albanese's entitlement to the older parliamentary pension scheme, arguing taxpayers would ultimately fund his pension. 

'And all the extra tax that comes from everyone else will help fund his lifetime pension.'

Hughes sarcastically referred to Albanese as the chosen one. 

'We're so lucky – he's so selfless.'