The major parties have allowed tax loopholes like the Capital Gains Tax discount and negative gearing to fuel a housing market that benefits investors while leaving everyday Australians struggling to afford a home.

With tax breaks covering their losses and reducing their tax bill, investors can afford to pay more for properties, pushing up prices and forcing first-home buyers to compete with people playing the system.

Here’s what we’ll do to fix this:

• Limit negative gearing and reduce the CGT discount from 50% to 25%, lowering it by 5% each year over five years.

These reforms will raise billions for social housing, curb rising rents, and help make home ownership a reality again for more Australians.