Like Labor's failed mining tax and carbon tax, Labor's abolition of negative gearing on all existing residential property, a massive hike in capital gains tax, is more tax policy on the run. These are reckless and ill-considered changes, which will have a very detrimental impact on the price of what is ordinarily our most precious asset. By taking out one-third of buyers from the market, the investors, this will drive down prices for established homes. In Corangamite I have spoken with many local—(Time expired)

The debate is interrupted in accordance with standing order 43.