MALCOLM TURNBULL’S POLICY ON HOUSING AFFORDABILITY – HAVE RICH PARENTS WHO CAN BUY YOU A HOUSE

Malcolm Turnbull has wasted no time reminding Australians how out of touch he is with every day Australians struggling to buy their first home by having his Joe Hockey “get a good job” moment on radio this morning.

Today on 774 ABC Melbourne Malcolm Turnbull suggested presenter John Faine “shell out” to help buy his kids a house to provide a bit of “inter-generational equity” when questioned about his opposition to Labor’s plans to level out the property market for first home buyers.

FAINE: Yeah but my question was specifically about the inter-generational aspects of it. It's created conflict with effectively the kids of your and my generation who can't get into the market and they're saying oh for goodness sake you baby boomers you just want everything and you're locking us out.

TURNBULL: Are your kids locked out of the housing market?

FAINE: Yes

TURNBULL: Well you should shell out for them; you should support them, a wealthy man like you.

FAINE: That's what they say.

TURNBULL: Exactly, well there you go, you see you've got the solution in your own hands. You can provide a bit of inter-generational equity in the Faine family.

It is astounding but not surprising that the Prime Minister, less than a day after the budget was released, could dismiss an issue that is facing millions of Australians who are looking to achieve the great Australian dream of home ownership but are locked out of a market that favours property speculators.

The Abbott-Turnbull Government has been in office almost three years, delivered three budgets and still has not released one plan that will help first home buyers or address the housing affordability crisis in this nation.

It seems that Malcolm Turnbull’s policy for first home buyers is for their parents, many of whom are still paying off their own homes, should “shell out” and buy their children a first home.

Malcolm Turnbull needs to stop joking about this issue and actually come up with a credible plan to help address housing affordability.

Today’s distasteful joke is more evidence that Malcolm Turnbull is out of touch with everyday Australians and will back the big end of town at every opportunity.

WEDNESDAY 4 MAY 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 Chris Bowen, Labor's Shadow Treasurer.