Labor's out of housing ideas

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Labor has failed on supply. Taxpayers are spending $80bn to build 30,000 fewer homes a year than under the former Coalition Government.

Now they’re turning their sights on younger people by increasing taxes which will remove opportunities for younger people.

After four years of failure, Labor has run out of ideas other than new taxes and old Coalition policies.

On Sunday, Labor finally admitted you cannot build new homes without roads, water, sewerage and power. But this is the same government that has already spent $80bn and delivered fewer homes. Another funding announcement will not fix Labor’s supply collapse.

Today, Labor is again promising to cut green tape. Some 100,000 homes are still waiting for approval under the EPBC Act. This is a bigger number than when Chalmers held his economic roundtable.

To make up for their broken Budget, Labor is going to increase housing taxes through changes to negative gearing and capital gains tax. The impact of this will go beyond the housing market and likely affect other investments, adversely impacting Australia as a place to do business and harming the intergenerational aspirations of the same young Australians Labor claims to be helping.

Australia needs more homes, lower taxes, less red tape and no more gimmicks.

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Media Contact | David Nouri | 0401 392 624