Bowen accuses government of “short-termism” on negative gearing

Adam Smith 5 December 2016 NEWS

clock moneyNegative gearing has remained in the spotlight as Shadow Treasurer Chris Bowen has taken aim at the government’s policy.

Ahead of a meeting of state and territory treasurers last week, Treasurer Scott Morrison said the government would not consider changes to negative gearing concessions.

“The government isn’t revisiting its position on negative gearing, and the reason we’re not is because the mum and dad investors who actually provide the capital for the nation’s housing stock, if we were to withdraw that, then that has the only outcome of increasing rents,” Morrison claimed.

But Shadow Treasurer Chris Bowen has rubbished the government’s claims, saying the argument against negative gearing has “fallen apart”, Sky News has reported.

“It was a risky call for the Labor Party to lead the debate so openly for negative gearing reform. But when you look at the number of groups who have called for reform, I believe now the government just looks ridiculous,” Bowen said.

Bowen called the government’s negative gearing stance “short-termism”.

The government has also come up against opposition from state and territory treasurers, who have argued that negative gearing changes should at least be considered as a way to address housing affordability issues.

Latest home loans headlines

Image: Shutterstock

Get more from finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site