I joined Juliette Saly on Ausbiz today to discuss the 2026 Federal Budget and whether changes to Capital Gains Tax (CGT) and negative gearing could ultimately create unintended consequences for younger Australians. While the reforms are aimed at improving housing affordability, I explained why reduced incentives for investors and forecasts for fewer homes to be built could place further pressure on supply and long-term wealth creation.

We also spoke about growing concentration risks in global equity markets, with artificial intelligence (AI) and technology stocks now accounting for an increasingly large share of the S&P 500. Historically, periods where a small group of companies dominate market performance have often been followed by higher volatility and mean reversion, making diversification and valuation discipline increasingly important for investors.

Watch via Ausbiz here: Roger says the Federal budget is a ‘disaster’ for younger Australians