After nine years of debunking their lies, it seems MB is going to have its work cut out over the next five weeks. Form the AFR:
More evidence has emerged that the level of negative gearing for new property is already much higher than Labor assumed when predicting how much extra revenue it will collect from its tax crackdown.
The new evidence also comes as the Coalition leapt on Treasury costings of Labor’s negative gearing and capital gains tax discount crackdown, which showed the expected revenue would be much lower at $31.5 billion over the next 10 years instead of Labor’s expectation of $35.1 billion.
The Property Council of Australia has provided data, collated months prior to Labor’s assumptions being called into question…
That depends how you define the word “evidence”. There is none that counters the PBO’s costings. Just the word of the deeply biased industry lobby. Sadly, the AFR didn’t bother to question it.
Moreover, even if the Coalition is right and the Budget savings will be $31.5 billion, these are still massive and far more than those achieved under the Coalition – a big fat zero.
At The Australian we have a better measure of what’s going on:
Real estate agents across the nation have declared war on Bill Shorten’s negative gearing overhaul and will mount a four-week campaign using customer databases to target buyers, sellers, landholders and tenants in key marginals seats.
The Real Estate Institute of Australia, which represents about 95 per cent of the 36,000 businesses that employ about 120,000 people, is leading the push to coincide with the election campaign.
The industry-backed campaign will harness social media platforms including Facebook, Instagram and Twitter to promote key attack lines against the Labor policy, arguing that it will reduce property prices in a cooling market, fail to raise the forecast revenue and pose a danger to the Australian economy.
Brace for a tsunami of fake news, in other words. Willingly, neh thrillingly, reproduced by a fake media.
