Labor MPs expect eventual concessions for startups after backlash to CGT changes

Several MPs tell Guardian Australia they are keen to see tweaks, and some are engaging directly with treasurer’s office Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Labor MPs expect the government will agree to capital gains tax concessions for startup businesses after a meme-fuelled backlash to the budget, with some wary that scare campaigns could “get out of hand” without clearer explanation of the changes from Anthony Albanese and Jim Chalmers. Guardian Australia spoke to a number of Labor MPs nationwide. Speaking on condition of anonymity, several MPs said they were keen to see change on CGT, with some engaging directly with Chalmers’ office. “If an unintended consequence has caused a headache, let’s fix it,” one Labor MP said about the CGT changes, which have dominated media headlines all week. But several Labor MPs say they believe the government will eventually decide on some kind of concessional treatment for startups, in recognition of the unique settings of such businesses and concerns about how the new cost-base inflation model would affect them in ways that other businesses would not. Others said that