Respect for Malcolm Turnbull’s Economics 101 lectures is lacking within the Liberal party.
Last week we saw the Assistant Treasurer directly contradict the Prime Minister on what would happen with house prices with removing negative gearing on existing property.
Today we saw the Leader of the Government in the Senate, Senator George Brandis, make it clear that the Government was opposed to making retrospective changes to negative gearing.
Today we saw Mr Turnbull, again, refuse to rule out retrospective changes on negative gearing
There was no such hesitation from Senator Brandis.
This was the exchange Senator Gallagher had with Senator Brandis during Senate Question Time:
GALLAGHER: Are retrospective changes to negative gearing on the table?
BRANDIS: Senator Gallagher, the Prime Minister has made the Coalition’s position on this matter perfectly clear.
GALLAGHER: I’m not sure it’s perfectly clear to anyone else but anyway, I refer to the Minister for Finance’s previous statement that the Coalition opposes retrospective tax changes as “a matter of principle”. Is this still the Government’s position?
BRANDIS: It has always been the position of Coalition Governments to have an in-principle opposition to retrospectivity.
The Prime Minister needs to cut out the uncertainty on negative gearing. If the Government doesn’t intend to make retrospective changes to negative gearing, the Prime Minister needs to rule them out once and for all.
MONDAY, 29 FEBRUARY 2016
Senator Katy Gallagher is Labor's Shadow Minister for Mental Health, Shadow Minister for Housing and Homelessness and the Shadow Minister Assisting the Leader on State and Territory Relations
This is a joint release with Labor's Shadow Treasurer Chris Bowen MP.