Bowen makes breathtaking sense on negative gearing reform

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Christ, this is a life raft to a drowning man:

Expensive tax breaks like negative gearing and capital gains tax concessions must be pared back if the broader voting public is going to support the hard calls needed to repair the budget, shadow treasurer Chris Bowen said.

Mr Bowen has told the Melbourne Institute economic forum that not only did governments need a mandate for their measures, budget repair had to been seen as fair.

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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.