Describing Mr Morrison’s decision more than eight months ago to effectively shut out potentially billions of dollars in property development by managed investment trusts as the “worst piece of economic governance I have seen in my 14 years in parliament,” Mr Bowen said a solution was possible.
After Treasurer Scott Morrison was earlier this month accused by major property developers of trying to stifle the development of a “build-to-rent” sector in Australia by publishing a draft law that would ban managed investment trusts from acquiring residential property unless the property is targeted at low-income consumers, Labor shadow Treasurer Chris Bowen has done likewise. From The AFR:
