Barnaby publicly warns against NG public warnings

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Man, it is bizarre:

Deputy Prime Minister Barnaby Joyce has warned Coalition MPs engaged in public disunity over the future of negative gearing that they could further imperil the government.

Risking a revolt from government MPs who want negative gearing kept in its current form, Malcolm Turnbull is pushing ahead with the idea of capping the use of negative gearing by the wealthiest investors in a bid to craft a “fair” tax reform that avoids the economic shock he claims Labor’s reform will deliver.

As Liberal MPs took to the airwaves to air conflicting messages on the idea, Mr Joyce urged all backbenchers to give Treasurer Scott Morrison additional time to develop “a strategic, well thought out, methodical” tax plan.

Rather like his recent declaration in support of negative gearing when his long held positions on protecting local assets and reducing external debt are both horribly imperiled by it.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.