Housing affordability inquiry makes zero recommendations

Adam Smith 19 December 2016 NEWS

shrug2A two-year inquiry into housing affordability has offered up no answers to the problem.

The Federal Opposition has blasted as “a waste of money” a parliamentary inquiry into housing affordability that made zero recommendations, the ABC has reported. The inquiry, established two years ago, did not support any changes to negative gearing or capital gains tax concessions. While submissions to the inquiry argued for changes to stamp duty taxes, the inquiry made no formal recommendations on the issue, the ABC said.

"However, the committee would support any future cross-government discussions on possible changes to these taxes," the report read.

Instead, the inquiry concluded that land supply was the main impediment to housing affordability.

"State and territory governments need to do more to adequately address land supply and ensure that existing policies and processes are not unnecessarily causing an undersupply," the report concluded.

A dissenting report by Labor MPs blasted the inquiry’s findings as “a complete waste of taxpayers’ money”.

"It should be entitled The Claytons Report — the report you have when you are not having a report,” the Labor report said.

The report comes on the heels of calls from state Liberal ministers to discuss changes to negative gearing. Federal Treasurer Scott Morrison has ruled out any changes to the tax concession.

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