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

The Labor Party asks the homeowners of Australia to believe that you can take one-third or more of the market out of residential property—take all of those investors out—and nothing will happen to prices. They have a policy document that says that negative gearing influences people to buy properties and causes prices to go up, and now they say that removing it will have no effect on prices. If there is no behavioural response, why would you do it? The Labor Party is a threat to the home values of Australia. Their policy is reckless, it is ill thought out and it is inconsistent. The government's policies are developed carefully, methodically and through traditional, careful processes that are appropriate. Labor is proof positive of the dangers of making it up as you go along. They have demonstrated their ineptitude in economic management.

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