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

The parliament has just passed the Banking Executive Accountability Regime, which is holding banking executives to account—an initiative of this government. Labor never did it. And, of course, we've imposed a major bank levy, which has made an important contribution to bringing the budget back into balance.

Let me start with what the honourable member said about negative gearing. When Labor first proposed their utterly unfair and discriminatory ban on people earning wages, salaries or professional income from offsetting that against net rental or business losses, they said this was all about bringing down the price of housing, which was too high. That is what they said it was all about. Now they say it wouldn't affect the price of housing at all.

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