Bandt accused of 'trying to make himself relevant'
Labor leader Anthony Albanese (pictured) has accused Greens leader Adam Bandt of “trying to make himself relevant” amid calls to scrap negative gearing.
Speaking at a press conference at Paddy’s market in Sydney, Albanese – who is heading to the polls against LNP opposition Peter Dutton in a few weeks – said: “Adam Bandt is trying to make himself relevant, I don’t blame him for that. That’s up to him. All the minor parties will try to do that.
“There’s nothing new about the Greens talking themselves up because sometimes the media follow that up for whatever reason. It makes things a bit more interesting.”
Negative gearing refers to a tax strategy where net losses on an investment property (i.e. interest and maintenance cost exceed rental income) can be deducted from an investor’s other income sources. It has been suggested that negative gearing is contributing to house price inflation.
Bandt has proposed to end negative gearing while scrapping capital gains discounts on investment properties in a bid to tackle Australia’s housing crisis.
In comments released to the media prior to a National Press Club address today, Bandt said: “Our proposal is a serious attempt to restore everyone’s economic rights, giving younger generations and renters a chance at home ownership while protecting ‘mum and dad’ investors.
“Nothing is more urgent than housing. We are refusing to join in this battle of the bandaids between Labor and the Liberals. Their approach is breaking the social contract and tearing the country apart.”
“But the truth is, that our objective is to hold onto the 78 seats we have and currently build on it.”
Brokers have called for the next Prime Minister to keep negative gearing and capital gains policies as they are, while calling stamp duty reduction.
