Labor slams Peter Dutton’s financial dealings, calling him a hypocrite as election battle heats up

Opposition Leader Peter Dutton has fiercely defended his extensive property transactions and share purchases, dismissing media reports as political smears orchestrated by the Prime Minister’s office. With an election looming, Labor has seized on the revelations, accusing Dutton of hypocrisy over his opposition to the government’s housing policies.

Dutton, who has built a multi-million-dollar portfolio over his career, denied any wrongdoing and insisted he has “only ever acted with integrity.” The reports detail his purchase of bank shares during the global financial crisis and $30 million worth of property deals, some of which he allegedly failed to disclose under parliamentary rules more than 20 years ago.

“They’ve trawled through every transaction of my entire adult life and found that I’ve bought and sold properties,” Dutton said, framing the scrutiny as politically motivated. “I’ve been proud of what my family and I have been able to achieve.”

However, Labor sees it differently. Government frontbencher Murray Watt attacked Dutton’s record, branding him a hypocrite for voting against cost-of-living relief while now pledging to axe the $10 billion Housing Australia Future Fund. Holding up a copy of the Sydney Morning Herald, Watt questioned how Dutton’s property wealth aligned with his opposition to government housing schemes.

But the revelations go beyond real estate. News Corp reports suggest Dutton bought bank shares just days before Kevin Rudd’s government announced a multi-billion-dollar bailout—information his then-leader Malcolm Turnbull had prior knowledge of. When pressed, Dutton dismissed the story as “ancient history” and insisted he never used inside information to influence his investments.

“A lot of astute investors bought bank shares at that time because they saw value,” he said, brushing aside allegations of impropriety.

Dutton also addressed claims about his financial holdings, stating that he now owns just one house and holds money in the bank. His family trust, he said, contains “no assets,” though he declined to reveal whether it holds cash.

The opposition leader then turned his fire on Prime Minister Anthony Albanese, arguing that personal finances should be off-limits. He pointed to Albanese’s $4.3 million clifftop home, which made headlines last year, but stopped short of criticising him directly.

“He tells a story of growing up in housing commission, and he’s now a multi-millionaire with property. Good luck to him,” Dutton remarked.

As the federal election looms, both sides appear ready for a bruising battle—not just over policy, but over personal wealth and financial transparency.