You idiots:
A spokesman for the Prime Minister then told The Australian Financial Review that Mr Turnbull was still open to tightening the tax deduction for losses on negatively geared investment, and reducing the capital gains tax discount for investors, but not by as much as Labor.
Pressed what the government’s position was on Tuesday morning, Finance Minister Mathias Cormann, did not say the government had ruled out increasing capital gains tax, saying they were still considering their options, and Mr Turnbull had been criticising Labor’s policy – which would see the 50 per cent CGT deduction for investors halved and would limit future negative gearing to new homes only.
“The Prime Minister in Question Time appropriately criticised Labor’s ill thought out policy,” he said.
Asked directly whether this meant that the government has reached a landing point on capital gains tax, Mr Cormann said: “the government is working through a whole series of options, as we publicly said we would and when relevant announcements can be made we will make them”.
Dreadful policy process on display again. Float a thought balloon, back flip, move forward while shifting backwards, accelerate more slowly, turn left and right…
For future reference chaps, the policy process goes like this:
- know your values and how you want to apply them to the nation;
- research the best course of policy to render your outcome;
- open a public debate after you’ve settled on your policy;
- win the political centre to see off the rent-seekers;
- implement policy.
Or, if you prefer:
- accept nihilism;
- do nothing;
- let the Opposition seize the initiative;
- panic and join with the rent-seekers.
