Labor’s negative gearing betrayal

The Australian Greens MPs

Australian Greens Housing spokesperson Senator Mehreen Faruqi has responded to Labor’s move to dump its commitment to winding back negative gearing.

Senator Faruqi said:

“This is a cowardly and pathetic backflip. House prices and rents are skyrocketing, and Labor is throwing fuel on the fire.

“In the middle of a housing affordability crisis, Labor has caved to wealthy investors and the Liberals. This is a shocking move and a betrayal of young people in particular.

“Not too long ago, Labor was calling out negative gearing and the CGT discount as ‘tax subsidies’ that ‘benefit the wealthiest Australians’ and are ‘skewed to high income earners’. What, exactly, has changed?

“It seems that for Labor, short-term, cheap politics have trumped any semblance of a commitment to progressive and equitable public policy. Shame!”

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