Michael Sukkar MP

Federal Member for Deakin
Assistant Treasurer
Minister for Housing
Minister for Homelessness, Social and Community Housing
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LABOR’S EACH WAY HOUSING BET DESTINED TO BE A LOSER FOR HOME OWNERS, RENTERS AND TRADIES



THE HON MICHAEL SUKKAR MP
Assistant Treasurer
Minister for Housing
Minister for Homelessness, Social and Community Housing

MEDIA RELEASE

14 February 2021

LABOR’S EACH WAY HOUSING BET DESTINED TO BE A LOSER FOR HOME OWNERS, RENTERS AND TRADIES

Despite the resounding rejection of Labor’s housing tax policies at the 2016 and 2019 elections, it is clear there are still many senior figures in the opposition who have homeowners, mum and dad investors and tradies in their sights.

Taxing Australian homeowners is in Labor’s DNA, in fact after the 2019 election, Labor’s housing spokesperson declared Labor was set to revive their failed negative gearing and capital gains tax policies, which would have killed jobs and new home construction.

Yet today, Anthony Albanese desperately wants Australians to now believe that Labor does not want to axe negative gearing and raise capital gains tax.

Another each way bet from Anthony Albanese and Labor.

Economic modelling commissioned by the Master Builders of Australia prior to the 2019 election found that under Labor’s failed policies there would have been;

  • Up to 42,000 less new dwellings built across Australia,
  • Up to 32,000 less full time jobs,
  • Up to $11.8 billion less building activity,
  • Up to $210 million less renovation building activity, and
  • Within five years of Labor’s property tax policy being implemented, the construction of new housing would have fallen in all states and territories, coupled with a fall of employment over the same period.

Despite the spin coming from Anthony Albanese’s office today, Labor simply cannot be trusted to protect the aspiration of Australians who want to buy a home, Australians who want to rent a home, or the jobs of tradies in our residential construction sector.

The Morrison Government believes that all Australians should be able to aspire to own their own home and we are backing our tradies to build our comeback from the COVID-19 recession.

Now is not the time for an each way bet. At a time when Australians need certainty and economic growth Labor must make it clear whose side it is on.

Does Anthony Albanese and Labor support home buyers, renters and tradies, or does they support high taxes and less employment?