Australia’s Property Council Prime Minister, Scott Morrison, launched another pathetic attack on Labor’s negative gearing policy during Question Time yesterday:
“They will not take a big stick to the electricity companies,” he said crossly of Labor. “But they will take a big stick to the values of your home. This is what they will do abolishing negative gearing and increasing the capital gains tax.”
Treasurer Josh Frydenberg repeated the dose, claiming Labor’s policy could “contribute to a big property price drop”.
Yet, at the same time, Liberal backbencher Michael Sukkar claimed “Labor’s negative gearing policy is a ‘revenue grab’ and is not designed as a housing affordability measure”.
So Labor’s negative gearing policy would tank house prices, and yet it is not a “housing affordability measure”, despite improving housing affordability necessarily requiring lower prices.
Get your story straight, boys. You are starting to look very foolish.
unconventionaleconomist@hotmail.com
