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Turnbull government fails on housing affordability

Media Release
Lee Rhiannon 24 Oct 2016
Greens spokesperson for housing Senator Lee Rhiannon says the Turnbull government is proving once again that it is not serious about tackling housing affordability. 
 
“After four years in government the Coalition have deigned to acknowledge that the housing affordability crisis exists, but continue to ignore the need to scrap the generous tax breaks distorting the market,” Senator Rhiannon said. 
 
“Treasurer Scott Morrison insists that increasing affordability ‘must be a key priority for all levels of government, including the Commonwealth’ but has failed once again to address housing affordability issues via his own federal treasury portfolio. 
 
“This is not just about chronic undersupply, it is about decades of subsidies to property investors and speculators.
 
“This is the same government which axed the National Housing Supply Council in 2013. Housing and housing affordability did not even rate a mention in the Treasury’s Corporate Plan this year.
 
“Repeatedly insisting that the housing market is not overvalued only highlights how out of touch the Turnbull government is.
 
“Phasing out negative gearing and the Capital Gains Tax discount is a critical step that the federal government must take to address affordable housing.
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