Amid all the scaremongering from our Property Council Prime Minister, Scott Morrison, along with property industry vested interests, Bill Shorten is standing firm on Labor’s negative gearing and capital gains tax (CGT) policy, vowing to make homes more affordable. From The AFR:
Bill Shorten says Labor will forge ahead with curbing negative gearing and capital gains tax exemptions if it wins the election because housing is still unaffordable for most…
“A lot of first-home buyers can’t enter the market. Come with us to any auction on a Saturday. Plenty of people …are still priced out of the market,” he said.
“If you don’t think housing affordability is a problem, talk to a young couple or talk to people who rent.”
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.