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

Thank you, Mr Speaker. So all of our policies are supporting innovation, investment, infrastructure, open markets and technology. What is Labor's tax policy going to do? Undermine confidence; undermine the value of the largest asset class, the family home. That is what their negative gearing policy will do: deprive ordinary Australians of making an investment in residential housing; deprive the members of the Leader of the Opposition's former union of doing that.

And then they want to increase, by 50 per cent, the tax on capital gains. At a time when we need more investment, when we want people to have the confidence to start the CEA Technologies of the future—to start the new firms, the new businesses—what Labor say is, 'We are going to increase the tax on you by 50 per cent.' They are upping a tax on investment just at the time when the nation needs investment. They are standing in the way of our success.

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