Declassified 2004 Cabinet Papers Reveal Long-Standing Housing and Cost of Living Challenges

Newly released documents highlight government inaction on housing affordability and grocery industry reforms, echoing contemporary issues.

Cabinet papers from 2004 show the Howard government rejected recommendations to reform capital gains tax and negative gearing, despite evidence linking them to rising house prices.
The government instead shifted responsibility for housing affordability to states, advocating for stamp duty removal and land tax reforms, which remain largely unaddressed today.
A proposed mandatory code for the grocery industry was also dismissed in favor of voluntary self-regulation, contributing to ongoing price pressures for farmers and consumers.
The released documents underscore parallels between past and present cost of living challenges, with housing affordability and supermarket practices still dominating political discourse.
The papers provide insight into broader cabinet discussions from 2004, including national security, climate change, and Timor-Leste border negotiations.