Australian politics and news live: Albanese, Dutton final face-off in election debate confirmed for Channel 7

Opposition leader Peter Dutton has again pinned himself as a PM of home ownership, saying his latest housing policy is “the missing piece of the picture” in a suite of measures.

“Importantly - what we announced yesterday was the missing picture which is - missing pieces of the picture which is to allow support for young people,” he said while speaking in the Brisbane seat of Ryan today.

“I want to be the Prime Minister for Housing and for home ownership and for housing affordability and accessible.”

During their western Sydney launch on Sunday the Coalition unveiled their “first home buyers mortgage deduction scheme” which aims to assist first-home buyers and address housing affordability concerns.

Their housing policy comes alongside a rolling cost-of-living war chest the Coalition have left late in to announce and includes their fuel excise promise, gas reservation policy and axing of the car tax.

Their housing scheme limited to five years and the first $650,000 of a mortgage, and would also be means-tested at $175,000 for singles and $250,000 for couples.

It would mean a family on average incomes would be about $11,000 a year better off — or $55,000 over five years.

The Coalition have also proposed a plan would let first-home buyers use up to $50,000 of their superannuation for a home deposit and allow them to claim tax deductions on interest for mortgages up to $650,000 on newly built homes for five years.

Opposition leader Peter Dutton is in the Brisbane western suburbs seat of Ryan this morning.

The seat is held by the Greens but had historically been a Liberal stronghold until the seat flipped at the 2022 election.

Incumbent Elizabeth Watson-Brown had become the MP after the upset.

Mr Dutton is in the Brisbane electorate with Shadow Housing Minister Michael Sukkar and his Liberal Ryan candidate Maggie Forrest.

He is holding a presser on a construction site, where media shadowing his campaign have arrived and told to wear high-vis and hard hats.

Mr Dutton is talking about the Liberal’s housing policy aimed at assisting first-home buyers and addressing housing affordability concerns, which was unveiled at their launch on Sunday.

The “first home buyers mortgage deduction scheme” would mean a family on average incomes would be about $11,000 a year better off — or $55,000 over five years.

It would be limited to five years and the first $650,000 of a mortgage, and would also be means-tested at $175,000 for singles and $250,000 for couples

The plan was a direct challenge to Mr Albanese’s pledge of $10b to build 100,000 homes exclusively for first-time buyers to move into from 2027.

Mr Albanese says he doesn’t think there will be an inflationary impact on trying to increase housing supply and demand all at once.

“If you don’t have enough homes built you’re having an inflationary impact because demand … supply. The old economics 1A lesson,” he said..

Mr Albanese has laughed off suggestions from the Coalition that hosting the COP climate conference would cost billions of dollars, when asked for an update on the bid.

The PM says he’s still committed to hosting the conference, which would be held in Adelaide should Australia and the Pacific win the bid.

“It’s a ridiculous statement (from Mr Dutton). The fact is that holding a COP a climate change conference internationally produces revenue as well,” Mr Albanese said.

“It’s an economic boost for wherever it’s held. We do have the bid in, it will be determined at the climate change conference later this year.”

Turkiye is also still bidding to host the 2026 conference.

Nicola Smith is on the Peter Dutton campaign press bus and the media have been getting down the the latest Liberal offering.

The Libs have dropped “Leaving Labor”, the first studio-produced rap diss track of the 2025 campaign aimed at Anthony Albanese and Labor’s cost-of-living failures.

“This is like Kendrick meeting Question Time — lyrical, direct, and as with all the best raps: political,” The description reads.

“Using the classic diss track format popularised by feuding rappers — think Nas vs. Jay-Z, but about groceries and rent — it delivers a sharp message with cultural punch.

“The chorus hook: “Bring them prices down / Albo’s gotta leave” gets a real rise out of the people.

“With lyrics that tap into real voter frustration — “$100 for eggs and cheese? You kidding me?”

“It’s a serious message in a new format.

“This drops harder and faster than interest rates under Labor.”

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Katina Curtis reports that he PM’s next stop is Nonna’s Cucina in the Liberal-held seat of Sturt, which Labor has high on its target list.

The non-profit cafe provides 56,000 Italian-style meals a year to elderly and people with disabilities both at home and in care facilities and has more than 100 volunteers.

Mr Albanese will meet one of its first volunteers, Regina Cerro, who still works with the organisation 26 years later.

Labor has promised $95,000 to the organisation if they are re-elected.

The PM isn’t getting ahead of himself after the latest Newspoll showed Labor is holding onto its two-party preferred lead amid a slide in the Coalition primary vote. The PM’s personal favourbility rating has also increased.

“I’ve been in 10 election campaigns,” Mr Albanese said.

“We’ve won three. Three out of 10, and one of those we won in minority. It is hard.

“No prime minister has been re-elected since John Howard, having served a term, since John Howard in 2004.

“It’s more than two decades, we’ve had a revolving door. Seven elections, seven different prime ministers. I’m certainly not getting ahead of myself.

“It’s hard to win an election if you look around the world. It has been a difficult time to be in government because of global inflation, but we’ll work each and every day and we’ll continue to put forward positive, constructive policies that will make a difference and will ensure that people are better off.”

The PM was asked about that awkward moment at the Labor launch yesterday, where Environment Minsiter Tanya Plibersek gave him an air kiss, and whether she’ll remain in her portfolio if Labor is re-elected.

Mr Albanese says the pair are “good mates”.

“I’ll comit to trying to win this election. I don’t assume,” he said.

“Tanya Plibersek has been a friend of mine for a long period of time. We live in neighbouring seats, we’re good mates and she’s doing a fantastic job.”

Mr Albanese has been asked about the need for more emergency accomodation for women escaping domestic violence.

He said the shortage is being addressed by the Housing Australia Future Fund, but admits “more needs to be done”.

The PM was also asked about non first-home buyers - families and housholds who own a home but need suppport to move - to which he said there were several programs aimed at fixing housing affordability.

“If you increase supply, you assist everyone, because you have an impact on affordability and so across the board, whether it’s the Housing Australia Future Fund, the social housing accelerator … So across the board, we know that supply is the key.

“Only Labor is looking at supply as well as demand,” he said.

The PM is asked about criticism from prominent economists Chris Richardson and Saul Eslake, who have criticised both Labor and the Coalition’s new housing policies.

Mr Albanese said Mr Richardson, who described it as “dumpster fire of dumb” should come and “have a look at the construction, the jobs that are being created here ... the economic activity right here”.

To criticism his policy would push up house prices, Mr Albanese says Labor is “addressing supply”.

He said home building “is happening” when challenged on why voters should believe the Government can build the 100,000 extra homes promised for first home buyers, given the 1.2 million homes promised by Labor at the last election had been slow to start.

“We are making real progress on that,” he said.