Do-nothing Malcolm leaps into inaction on negative gearing

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Goodness he’s moving fast to do nothing today, fresh from the AFR:

Prime Minster Malcolm Turnbull told Melbourne radio 3AW “we haven’t got any plan to review the policy we took to the election”.

He insisted housing affordability was “overwhelmingly a question of supply” and that was the area in which the Commonwealth wanted to work with the states.

Finance Minster Mathias Cormann one of several minsters to hit the airwaves to push back at NSW, told Mr Stokes to stick to his day job which was about boosting supply.

“Rob Stokes should focus on his job as planning minister,” Senator Cormann told Sky News.

“The NSW government is in the driver’s seat.”

Senator Cormann said the government had promised before the election not to touch either tax and it would not be breaking that promise.

Mr Stokes received a tongue lashing from former Liberal minster Peter Reith who called him a lone voice and said if he felt so strongly about negative gearing, “why doesn’t he join the Labor Party”.

Lol, so doomed.

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.