{"id":6967,"date":"2026-05-07T22:51:16","date_gmt":"2026-05-07T22:51:16","guid":{"rendered":"https:\/\/www.europesays.com\/australia\/6967\/"},"modified":"2026-05-07T22:51:16","modified_gmt":"2026-05-07T22:51:16","slug":"anthony-albanese-wouldnt-be-pm-if-it-were-not-for-critics-fund-manager-geoff-wilson-claims-amid-capital-gains-tax-spat","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/australia\/6967\/","title":{"rendered":"Anthony Albanese &#8216;wouldn&#8217;t be PM&#8217; if it were not for critics, fund manager Geoff Wilson claims amid Capital Gains Tax spat"},"content":{"rendered":"<p>Anthony Albanese would not be Prime Minister if it were not for Labor&#8217;s critics, an asset management boss has claimed, after the PM chided him at a press conference.\u00a0<\/p>\n<p>Mr Albanese was asked respond to Geoff Wilson\u2019s criticism of the Labor government\u2019s rumoured capital gains tax changes at a stand-up in Sydney on Wednesday.\u00a0<\/p>\n<p>The Prime Minister sarcastically welcomed the comments from the \u201cunbiased commentator\u201d and likened the Wilson Asset Management founder to Tony Abbott and John Howard.\u00a0\u00a0<\/p>\n<p>\u201cGeoff Wilson has opposed everything my government has done,\u201d he said.\u00a0\u00a0<\/p>\n<p>On Thursday morning,\u00a0Mr\u00a0Wilson told Sky News Australia the claim was untrue.\u00a0\u00a0<\/p>\n<p>\u201cFirst of all, I\u00a0haven\u2019t\u00a0opposed everything his government has done,\u201d he said.<\/p>\n<p>\u201cHe wouldn\u2019t have a job unless, I think,\u00a0myself\u00a0and\u00a0a number of other people spoke out about the Bill Shorten and the Chris Bowen illogical tax on franking back in 2018.\u201d\u00a0<\/p>\n<p>Asked squarely if he was \u201ccompromised\u201d,\u00a0Mr\u00a0Wilson said \u201cof course\u201d.\u00a0<\/p>\n<p>\u201cAs a fund manager, yeah of course, I mean\u00a0everyone\u2019s got\u00a0various interests,\u201d he said.\u00a0\u00a0<\/p>\n<p>\u201cIn terms of the impact (CGT tweaks will) have\u00a0on our business, if they bring this in\u00a0it\u2019s\u00a0probably positive\u00a0because people will be more likely going for yield because capital is going to get taxed at double the rate.\u201d\u00a0<\/p>\n<p><img decoding=\"async\" class=\"poster-img\" src=\"https:\/\/www.europesays.com\/australia\/wp-content\/uploads\/2026\/05\/d7ab21180db6e859d77f777138ca7f55.jpeg\" data-sctrack=\"op-poster-img\" alt=\"Albanese responds to Geoff Wilson\u2019s criticism of Labor\u2019s focus on \u2018intergenerational equity\u2019\" fetchpriority=\"high\"\/><\/p>\n<p>It comes after Mr Wilson<a class=\"body-link\" href=\"https:\/\/www.skynews.com.au\/business\/finance\/prime-minister-anthony-albanese-humbled-after-personal-spray-at-critic-geoff-wilson-over-capital-gains-tax-discount\/news-story\/2a02b33bbbb36f158e93ca4437480ace\" data-tgev=\"event119\" data-tgev-container=\"bodylink\" data-tgev-order=\"2a02b33bbbb36f158e93ca4437480ace\" data-tgev-label=\"business\" data-tgev-metric=\"ev\" rel=\"nofollow noopener\" target=\"_blank\"> lashed the Prime Minister in comments to SkyNews.com.au shortly after the press conference<\/a>.\u00a0\u00a0<\/p>\n<p>\u201cAustralia has a serious productivity and capital formation problem, and changes to capital gains tax that discourage long-term investment will only make that worse,\u201d he told SkyNews.com.au.\u00a0<\/p>\n<p>&#8220;This debate should not be about personalities. It should be about whether Australia wants to encourage people to back businesses, create jobs and invest for the long term.\u201d\u00a0<\/p>\n<p>\u201cTaxing capital more heavily will damage confidence in the stability of our tax system and destroy aspiration for young Australians.\u201d<\/p>\n<p>Mr Albanese had been addressing reporters after a meeting of National Cabinet regarding fuel.\u00a0<\/p>\n<p>Sky News\u2019 Matt Taylor raised\u00a0Mr\u00a0Wilson\u2019s position against\u00a0purported CGT\u00a0changes at the time.\u00a0\u00a0<\/p>\n<p>The Prime Minister contested the reporter\u2019s characterisation of Mr Wilson as a \u201cleading\u201d asset manager.\u00a0\u00a0<\/p>\n<p>\u201cTell me a leading asset manager and I\u2019ll respond,\u201d he said.\u00a0\u00a0<\/p>\n<p>\u201cGeoff Wilson has been a political participant for some\u00a0period of time. Everyone knows\u00a0that\u2019s\u00a0the case.\u00a0<\/p>\n<p>\u201cSo, I expect no different from Tony Abbott opposing\u00a0whatever\u2019s\u00a0in the budget, or John Howard will oppose\u00a0whatever\u2019s\u00a0in the budget and\u00a0I\u2019m\u00a0sure that will receive publicity.\u201d<\/p>\n<p>The public spat came after Mr Wilson panned planned changes to the CGT as \u201ceconomic vandalism disguised as fairness\u201d earlier in the week.<\/p>\n<p>In his\u00a0<a class=\"body-link\" href=\"https:\/\/x.com\/GeoffWilsonWAM\/status\/2051667361233829917\" rel=\"noopener nofollow\" target=\"_blank\">social media post lambasting the planned CGT change<\/a>, Mr Wilson outlined how a young asset holder would be disadvantaged under the change.<\/p>\n<p>He said $10,000 invested today that compounded at 15 per cent annually for 50 years would grow to more than $10.8m.<\/p>\n<p>Under the current 50 per cent CGT discount, the government would receive just over $2.5m in tax.<\/p>\n<p>However, the government will receive more than double this amount, almost $5.1m, under the inflation-indexed regime.<\/p>\n<p>Mr Wilson in 2019 had also criticised Labor\u2019s 2019 franking credit proposal.\u00a0<\/p>\n<p>Franking credits changes are widely credited to have played a substantial role Bill Shorten&#8217;s 2019 election loss.\u00a0\u00a0<\/p>\n<p>The refund adjustments were branded a &#8220;retiree tax&#8221; and saw Labor&#8217;s support tank in older electorates.<\/p>\n","protected":false},"excerpt":{"rendered":"Anthony Albanese would not be Prime Minister if it were not for Labor&#8217;s critics, an asset management boss&hellip;\n","protected":false},"author":2,"featured_media":6968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1869,1112,22,21,8374,8373,376,489,1668,8372],"class_list":{"0":"post-6967","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-australia","8":"tag-albanese","9":"tag-attack","10":"tag-au","11":"tag-austrlia","12":"tag-fight","13":"tag-geoff-wilson","14":"tag-press-conference","15":"tag-prime-minister","16":"tag-sky-news","17":"tag-spat"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/6967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/comments?post=6967"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/6967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media\/6968"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media?parent=6967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/categories?post=6967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/tags?post=6967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}