Greens Treasury spokesperson, Senator Peter Whish-Wilson, is today calling on the Government to end its reckless support for negative gearing and capital gains tax discounts that are fuelling a housing crisis.
Senator Whish-Wilson said, “It doesn’t seem to matter which expert comes out against negative gearing or what happens to house prices, the Government remains in denial about its role in the housing crisis.
“Malcolm Turnbull and Scott Morrison are culpable in locking an entire generation of young people out of home ownership simply to line the pockets of property speculators.
“Rather than seeking to quell the blazing house price rises, the Government keeps pumping petrol on the flames through negative gearing and capital gains tax discounts.
“Younger people are being sentenced to an inescapable life-long financial punishment because this government is protecting property speculators.
“The amount needed for a house deposit in Sydney and Melbourne has risen more each and every month, than it is possible to save. With every month of inaction by the Government, tens of thousands of younger people resign themselves to a lifetime of renting,” he concluded.