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

The Labor Party's proposal to ban negative gearing to prevent people from offsetting rental losses against their professional or salary income will put out of the market the very middle income earners the honourable member claims to have such empathy for. Who will it leave in? Wealthy investors. It will be the person with the investment income from other properties or stocks, shares and bonds that will continue under Labor's policy to be able to negatively gear. The hypocrisy, the inconsistency and the economic illiteracy of the Labor Party are writ large in this speech and in every speech by the Leader of the Opposition.

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