Union push for 'super profit tax' to fund housing watered down at Labor conference

A move by the unions to commit Labor to introduce a tax on 'super profits' recorded by banks and other corporations has been watered down.

"There is no issue more pressing in our economy and society than the gap in affordable housing," he said.

"This is not everything that the union is demanding, but it is a very significant first step," Mr Smith said. "We have structured our economy in such a way that the only pathway to economic security in this country is through private property," Ms Todorovic said.

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