Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

At the last election we made it very clear that the reckless policy that was put forward by those opposite on capital gains tax and negative gearing would have presented a very real threat to the stability of Australia's housing market. Since that time, the risks continue to present themselves, absolutely, in relation to the policies that those opposite advocate when it comes to the housing sector. The Labor Party do not have a housing affordability policy. What they have is a policy to increase taxes and that is all—to take the money and put it in their big bag of cash, because they cannot bring themselves to control spending. If those opposite actually thought that revenue raised on that side of the ledger should be invested in improving social housing or doing something like that, then perhaps they would have a housing affordability policy. But they do not have a housing affordability policy. They have no plans to increase the supply of housing in this country, which is the key issue when it comes to addressing housing affordability. All the shadow Treasurer has is some promise to cut negative gearing access to those who are involved in doing this for their own futures whether they be police officers, nurses, teachers or the others who are simply saving for their future. What he wants to do is rip that offer of opportunity away from them, and he wants to do it—bizarrely—in a way that he thinks is trying to help them. All the shadow Treasurer and the Leader of the Opposition have when it comes to housing affordability is a cruel hoax. It is a cruel hoax, and he is trying to tell the people of Australia, 'If I put up your taxes, you'll be able to afford your houses.' It is a lie.

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