JOHN ALEXANDER IS CORRECT – TURNBULL HAS NO PLAN FOR HOUSING AFFORDABILITY

Once again divisions have opened up within the Turnbull government over housing affordability, with John Alexander leading a group of MPs ‘concerned about housing prices’ calling on the PM to address the affordability crisis.

 

Unfortunately for homebuyers, Malcolm Turnbull is too out of touch, and his government too chaotic and divided, to do anything about it. While they fight with each other, young Australians are finding it almost impossible to enter the housing market.

 

The only policy Malcolm Turnbull and the Liberals have on housing affordability is to get rich parents or leave town.

 

Malcolm Turnbull and Scott Morrison promised major reforms and change on housing affordability in the 2017 Budget and the only thing they managed to deliver was a multi-million dollar taxpayer funded advertising campaign to advertise the little they’ve done.

 

While Malcolm Turnbull and Scott Morrison refuse to reform the world’s most generous tax concessions on investment housing, working and middle class Australians are subsidising wealthy investors. The public and every reputable economist says negative gearing and CGT needs to be reformed.

 

Labor has been leading this debate for a long time. We are the only major party with a comprehensive plan to tackle housing affordability, that deals with both demand and supply issues, including reforming negative gearing and the capital gains tax discount, and other measures to reduce homelessness and boost jobs.

 

Labor will also work with states and territories to improve COAG housing agreements to progress planning reform and boost inclusionary zoning, given the failure of the NSW government’s ‘density bonus’ policy, and we will have more to say on housing affordability before the election.