Live: Shadow treasurer brands Labor's 'widows tax' fix a 'patch-up job'

Shadow Treasurer Tim Wilson says Labor's attempt to address unintended consequences of its federal budget measures is a "patch-up job".Follow all the updates in our live blog. Wed 5 Aug 2026 at 7:34amWed 5 Aug 2026 at 7:34amWilson says he won't give Labor points for 'patch-up job' on so called 'widows tax' fixTim Wilson has questioned how much time the government will give businesses to review a draft bill on Labor's budget measures.The treasurer has released draft legislation for consultation to close unintended consequences of Labor's federal budget tax overhaul, including the so-called "widow tax".Widowers, divorcees and domestic violence victims could have faced less favourable tax treatment on investment properties previously shared with a partner under Labor's budget.Speaking to News24, the shadow treasurer has welcomed the changes but says he won't give Labor points for a "patch-up job"."We know already that there are widows that are being hit by Jim Chalmers' higher taxes, but what he's done is given an edict basically to the banks not to implement the law."It should be done, it should have been done properly the first time and the best way to do it to make sure it goes through a process, make sure we get input for people who are impacted."Wed 5 Aug 2026 at 7:27amWed 5 Aug 2026 at 7:27amDavid Pocock says inquiry shows PM is taking policy from the gambling lobbyACT senator David Pocock has accused the prime minister of taking policy from the gambling lobby and "selling it as getting the balance right".Yesterday, gambling companies appearing before a Senate inquiry denied claims they offered a high-spend customer access to illicit drugs and escorts.On Monday, Alliance for Gambling Reform chief advocate Reverend Tim Costello spoke about a young man he said received funding for travel, escorts and drugs from Sportsbet and TAB.Speaking to ABC News Breakfast, Pocock says the inquiry has shown Labor's gambling ad laws won't change the normalisation of gambling amongst young people."The PM is basically taking policy from the gambling lobby and selling it as getting the balance right, and Australians see straight through it," Pocock says."It's no surprise you're not seeing much posting on social media from Labor members. They're not proud of this."This is a real opportunity for the Senate, for the Coalition, for the crossbench, to say to the government, 'We're going to actually protect young Australians, and we're going to amend your weak laws to ensure that they do something.'"Wed 5 Aug 2026 at 7:25amWed 5 Aug 2026 at 7:25amBureau of Meteorology commissions independent reviewEnvironment and Water Minister Murray Watt has confirmed an independent review is underway into the Bureau of Meteorology (BOM).The review, commissioned by BOM's chief executive Stuart Minchin in consultation with Watt, will examine how it can best meet the needs of Australians.Last year, it was inundated with feedback after rolling out a new $96 million website upgrade.Watt says the review's findings will help guide future strategy."I think it's always a good idea for government agencies to look at their performance about the services that they're delivering to the Australian public. We know that the Bureau of Meteorology is a particularly respected and valued organisation," Watt says.Wed 5 Aug 2026 at 7:15amWed 5 Aug 2026 at 7:15amBridget McKenzie says draft bill to close so-called 'widow tax' amounts to 'backflip'Nationals frontbencher Bridget McKenzie says the release of draft legislation to close unintended consequences of Labor's budget measures amounts to a "backflip".Widowers, divorcees and domestic violence victims could have faced less favourable tax treatment on investment properties previously shared with a partner under the government's budget.Under draft legislation released for consultation on Tuesday, Australians who inherit an ownership stake in an investment property from a spouse would keep the negative gearing treatment that applied before their partner's death.Speaking to Channel Seven, McKenzie has repeated the Coalition would repeal Labor's budget measures if it's voted into government."I think what we're seeing with another backflip from Labor is confirmation of Labor's economic incompetence," McKenzie says."The fact that nearly three months after the federal budget is handed down, we're having to again have to fix up a mess of Labor's making."Wed 5 Aug 2026 at 7:04amWed 5 Aug 2026 at 7:04amGood morning 👋Hello, and welcome to our federal politics live blog. It's great to have you join us here on this chilly Wednesday morning!I'm Josh Boscaini, joining you live from Parliament House in Canberra, here and ready to bring you all of today's federal politics news.The treasurer has released draft legislation for consultation to close unintended consequences of Labor's federal budget tax overhaul, including the so-called "widow tax".Widowers, divorcees and domestic violence victims could have faced less favourable tax treatment on investment properties previously shared with a partner under Labor's budget.And Energy Minister Chris Bowen will be up at the National Press Club later today, where he'll be announcing that the cost of installing solar at schools, supermarkets, factories and farm buildings will be slashed by about 20 per cent.Let's get right into the day and see what happens!