WA Liberals admit that house price decline was a deliberate policy

  • Liberal Deputy Leader Bill Marmion declares in Parliament that the WA Liberals’ triple increase to land tax was designed to bring down the value of homes
  • 70 per cent of house price decline occurred under the Liberal National Government
  • Negative equity part of the consequences for economic mismanagement of the Liberal National Government 
  • Deputy Liberal Leader Bill Marmion has declared in Parliament that the three consecutive increases in land tax by the previous Liberal National Government were part of a deliberate plan to ‘make housing more affordable’ by decreasing the value of homes.

    Unfortunately the Liberal Party plan worked, with the median house price falling under the previous government by about $40,000, which represents around 70 per cent of the total decline in house prices since their peak.

    The Member for Nedlands has now admitted this was a deliberate strategy of the Barnett Harvey Government, which increased land tax three times across 2013-15.

    As stated by Treasurer Ben Wyatt: 

    “While it would bring little comfort to those who are currently facing negative equity, they are now aware that their plight was the direct result of misguided Liberal Party policies which were planned with that very result in mind.

    “The comments by the Deputy Leader of the Opposition show that the Liberal Party still have no idea how to manage an economy nor do they care for the damage that their time in office inflicted on the State of Western Australia.

    “This is an Opposition who clearly are yet to learn anything despite being in Opposition now for more than two years and continue in the same way they did when in Government – that is, to fail to think carefully about the future consequences of their actions.”