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
- Borrowers are back: homebuyer lending rises 10% in July
- Australian borrowers could save up to $60,000 by refinancing right now
- Athena’s new home loan rates get lower as you pay your mortgage off
- House prices continue falling (slowly) across Australia
- Record low interest rates are pushing Australians to refinance like never before
Image: Shutterstock
