Bowen delivers housing affordability coup de grace
For years I have lamented the complete and utter lack of discussion about housing affordability by Australia’s politicians.
In the lead-up to the 2013 Australian federal election, the issue of housing affordability received zero attention from Australia’s major political parties, and no public debate.
For example, of the 48 discussion papers outlining the Coalition’s policies on just about everything – including such useless topics as “creating a green army”- there was no policy on the single biggest purchase anyone will make and by far the biggest asset class in Australia.
I was hopeful that Malcolm Turnbull’s rise to Prime Minister would change the course of discussion within the Government. However, in his ministerial list, which includes 40-odd ministerial positions, a dedicated “Minister for Housing” is conspicuously absent.
Moreover, Turnbull’s recent scaremongering over Labor’s proposed reforms to negative gearing and the CGT discount has shown that he does not care one iota about housing affordability, preferring to serve Australia’s youth a housing shit sandwich instead.
The tide is slowly turning, however, with the Australian Labor Party’s (ALP’s) brave policy platform to reform negative gearing and the CGT discount, which is a clear winner.
Yesterday evening, Labor Shadow Treasurer, Chris Bowen, gave a timely speech lambasting the Turnbull Government over housing affordability, which is well worth watching (video above – sorry about some streaming issues).
Here’s my favourite quotes:
“The Prime Minister could condescend for Australia… condescending to Australia’s young people… Saying to Australia’s young people that “he doesn’t care” about their opportunity to get a house…”
“We hear a lot about aspiration from those opposite [the Coalition]. We hear about how they embrace aspiration. But how about the aspirations of young people to own a home. How about the aspirations of young people to actually build their wealth through their house. One house… One house would do it. That’s what they want… To get into the housing market”.
“Of course, all they have is condescension and a lack of a plan…”
“93% of NG is going into existing houses. That is a 93% FAILURE RATE if your objective is new housing construction. If we have a 93% failure Mr Speaker you’d want to review that government program”…
Regardless of your political persuasions, it great to see housing affordability finally being discussed by a major political party, along with concrete policy.
The Turnbull Government needs to stop treating Australians like fools, stop the negative scare campaign, and release a plan of its own.
unconventionaleconomist@hotmail.com
