SLOMO LATE TO THE HOUSING AFFORDABILITY DEBATE

24 Oct 2016

The Turnbull Government has shown yet again just how out of touch they really are, having woken up this morning and suddenly realised that housing affordability is an issue for millions of Australians.

SLOMO LATE TO THE HOUSING AFFORDABILITY DEBATE

 

The Turnbull Government has shown yet again just how out of touch they really are, having woken up this morning and suddenly realised that housing affordability is an issue for millions of Australians.

When Labor detailed a plan to address Australia’s housing affordability crisis Mr Turnbull and his Treasurer instead spent their time defending vested interests in the property sector and denying there was a crisis.

The best Malcolm Turnbull has to offer in recent times on housing affordability is to ‘get rich parents’.

It’s also ironic to hear the Liberal Party talk about the need for greater housing ‘supply’ given one of the first policy actions they took on coming to office in 2013 was to abolish the National Housing Supply Council.

 A short summary of Scott Morrison’s speech is: there’s a housing affordability crisis and the states should do something about it.

 We have a housing affordability crisis in Australia and Federal Labor has been the only party prepared to do something about it - only Labor has a plan to put first home buyers on a level playing field with investors.

 

If the Turnbull Government is serious about doing something on housing affordability it must tackle reform of negative gearing and the capital gains tax discount.

Of course there are a range of factors at play in the housing market, including land supply, but to ignore tax incentives for property investors and speculators shows that the Liberal Party has no intention of increasing first home ownership.

And jurisdictions like the ACT who have been bold in reforming inefficient taxes like stamp duty, should be supported not attacked by the Commonwealth Government.

There’s no point complaining about a housing affordability crisis if you’re not prepared to examine and use every lever of government policy, at every level of government.

MONDAY, 24 OCTOBER 2016