House debates

Tuesday, 23 February 2016

Motions

Prime Minister; Attempted Censure

3:14 pm

Photo of Malcolm TurnbullMalcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

is already either growing at anaemic levels or, in the case of some cities, declining. They are going to smash that. That is the biggest asset of most Australians. They are going to cut the value of your home. That is Labor's policy. They want to make housing more affordable by making your house worth less. They want to cut the value of your house.

When the member for Fraser was asked for modelling, he said, 'I don't know what you mean by economic modelling.' Well, we do. It is screamingly obvious. Everybody understands that if you take more than a third of the buyers out of the ring it is going to have an effect on prices. Will it make prices go up? No. Will it make them stay the same? I do not think so. I think it will make them go down because that is what happens when the buyers leave, when the buyers go away. When the buyers are barred by an act of parliament, which is what Labor would do, then the price will go down.

This is yet another example of the recklessness and the danger of a Labor government. Remember, this is the party that brought us the live cattle export ban which smashed cattle prices. Honourable members opposite—

Opposition members interjecting

And I hope every Australian in every regional centre and every farmer notes—

Opposition members interjecting

Their microphones are not on, Mr Speaker, but when we talk about cattle prices the Labor Party sneer and scoff. That is what Labor think about farmers. That is what they think about the people whose livelihoods they destroyed with their recklessness. They think it is a joke. And I say to every farmer in Australia, to every single farmer in Australia—

Mr Mitchell interjecting

Comments

Tibor Majlath
Posted on 25 Feb 2016 8:49 am (Report this comment)

The PM says that house prices will fall if Labor's policy on negative gearing is implemented even with grandfathering on existing properties. Investors will be reduced by one third. Hence property prices will fall destroying the value of your home. Does this not also imply that the tax concession is in fact a cause of high prices?

What is the evidence for the PM's claim? The LNP is fond of pointing out planning and zoning regulations as the cause of housing supply. But surely there are many factors no one talks about such as population growth driving supply/demand. How has the record low cost of money/borrowing driven up property prices? What effect does land tax have on holding several investment properties? Does stamp duty have an effect? Doesn't the public deserve facts and proper explanations?

Instead the PM confuses the ethically challenged live animal export trade with Labor's sneering of farmers. That trade exports jobs. Why not slaughter animals here and give Australians a job rather than indulge in such clumsy and naive debates.