I note the honourable member's question, and I just refer him to his own policy document, which states that the combination of the capital gains discount and negative gearing—so it asserts—has led to overinvestment in loss-making investments on existing property.

Ms MacTiernan interjecting—

So I am intrigued that he has taken an interest in the quote from the Treasury official. It is entirely at odds with his own policy document. He knows that his policy will drive down housing values. It will put at risk the most important asset—

Ms MacTiernan interjecting—