Bowen accuses government of “short-termism” on negative gearing
Negative gearing has remained in the spotlight as Shadow Treasurer Chris Bowen has taken aim at the government’s policy.
Negative 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
- 12 Days of Holiday Offers: Get as many as 50 free offset accounts with Up
- 12 Days of Holiday Offers: $3,000 cashback when you refinance with IMB
- The 6 home loan tips I give everyone who’s just bought a house
- Melbourne Cup day rate rise sees another blow to homeowners
- Is Australia’s Help to Buy scheme good for consumers?
Image: Shutterstock
