One Nation’s polling surge reflects deeper disillusionment with the major parties, but the real test is whether Labor has the courage to press ahead with housing tax reform despite the inevitable scare campaign.

What strange and puzzling times we live in. Pauline Hanson shot to fame as a disendorsed Liberal candidate before the turn of the century, and I never expected to see the day, 30 years later, when the polls showed her One Nation party getting a fraction more first-preference votes than the Labor government and leaving the Coalition down and out on less than 20 per cent. Hanson for PM?

Meanwhile, it’s a strange and puzzling time for the housing market. Oh, no. The government’s meddling in the budget has house prices falling. Why wasn’t I warned?

I could be wrong, but I doubt we’ll ever see Hanson moving into the Lodge. This is just a further step in the decline of two-party politics. Voters are disillusioned with both sides of politics and looking for some other party or independent to vote for. The sudden popularity of Hanson and One Nation is a sign both sides are on the nose, and voters are looking for a convenient way to protest. If everyone else is piling into One Nation, why don’t I join in?

What in particular has got these voters upset? It could be, as Opposition Leader Angus Taylor argues, voters are angry because Labor broke its promise not to tamper with negative gearing and the capital gains tax discount, but are blaming both sides.

Could be, but I doubt it. The sad truth is that breaking promises is no longer a big deal. Both sides do it all the........

© Pearls and Irritations