Negative gearing safe as houses

Advertisement

Albo’s recent promise breaker tax cut changes have triggered an iMSM debate about the prospects of Labor backflipping next on negative gearing.

There are four reasons why Albo’s dills will not revisit the third rail of Australian politics changes for a generation.

First, Labor lost the 2019 election based on excellent proposed reforms.

Second, the immigration obsession requires a negative gearing policy to keep new builds on the boil.

Advertisement

Third, Albo is a backroom bovver boy and policy pragmatist. He’s in it for power and would sell his mother to keep it.

Fourth, and most important. Treasurer Jim “Chicken” Chalmers is an abject reform coward.

Negative gearing is 100% safe from this generation of fake left Labor.

Advertisement
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.