Australia politics live: bank expects home price reduction from budget to be more than twice government forecast

Good morning and welcome to our live politics blog. I’m Martin Farrer with the top overnight stories and then it will be Krishani Dhanji with the main action. Australia’s youngest convicted murderer has been sent back to jail after a judge found him to have had complete disregard for his release conditions. The man, known only as SLD, stabbed to death his three-year-old neighbour Courtney Morley-Clarke on the Central Coast in 2001. More coming up. And expect more debate today over the government’s plan to change capital gains tax and negative gearing. The Commonwealth Bank is forecasting they will make house prices 5% lower than they otherwise would have been – more than twice the difference that Treasury had modelled.