Housing Woes and Cost of Living Echo 2004 Election Concerns
The 2004 election issues of housing and living costs resurface as Australia prepares for the 2025 federal poll amid rising public concern.
Australia, John Howard, Mark Latham, Cost of Living, Housing Affordability
Canberra: Remember 2004? It was a big year for Australia. Ian Thorpe brought home gold from the Athens Olympics, and Shannon Noll was topping the music charts. But politically, it was a wild ride too.
John Howard was in the spotlight, winning his fourth election against Mark Latham, even when the polls weren’t looking great for him. He later reflected on how significant that year was, especially with the cost of living being such a hot topic.
Fast forward to today, and it feels like we’re back in that same boat. The National Archives just dropped a bunch of cabinet papers from 2004, and guess what? The issues they faced back then sound a lot like what we’re hearing now as we gear up for the 2025 federal election.
Back in 2004, people were really feeling the pinch at the grocery store. The government was even thinking about a code of conduct for grocery retailers. They decided against making it mandatory, though, despite some reports saying there were problems in the industry.
Housing was another biggie. The cabinet was all about boosting supply and getting states to ease up on stamp duty. But Howard and then-treasurer Peter Costello didn’t think changes to capital gains tax were affecting house prices much.
They figured the government couldn’t do much in the short term to help first-time buyers, but they did see a role for themselves in making housing more efficient.
Oh, and let’s not forget about Telstra. In December 2004, they decided to sell off the government’s remaining shares to kickstart a sovereign wealth fund.
Even the aged care sector was in trouble back then. A review called it “immature” and said it was struggling with regulations. They set up a committee to help the industry out.
Howard’s win in 2004 was a game-changer, giving him a solid majority in parliament. This allowed him to push through some pretty controversial reforms without much hassle.
He ended up being Australia’s second-longest-serving prime minister, but he also noted that being in power for so long can wear on voters. By 2007, people were ready for a change.