Andrew Leigh

UP, DOWN; RICH, POOR: IT’S THE TURNBULL HOKEY-POKEY

Having seen how well running two contradictory scare campaigns worked out yesterday, Malcolm Turnbull has decided to add even more confusion to his Government’s chaotic position on negative gearing.  

Just as Malcolm Turnbull argues Labor’s negative gearing policy can simultaneously drive prices up and down, apparently it can be both an attack on the wealthy and a gift for them all at once.

Here is how the Prime Minister described our policy in Question Time on Monday:

“Let's be frank. What they have done is set out to go for a 'soak the rich', 'politics of envy' policy.” – Malcolm Turnbull, Question Time, Monday 22 February

By today, he had done a complete about-face – just as he has done on climate change, marriage equality, and so many other important issues.

“Labor's policy is so inequitable…the only buyers that would be left who could claim a net rental loss are those who are so wealthy that they have investment income which can offset the losses. This is a negative gearing policy for the very rich.” – Malcolm Turnbull, Question Time, Thursday 25 February

Which is it, Prime Minister?

The hysterical, nonsensical response to Labor’s carefully-considered plans on negative gearing  has exposed the muddled thinking at the heart of Malcolm Turnbull’s government.

With no policies and no agenda of his own, he is dredging out every desperate trick from Tony Abbott’s political playbook. But he can’t even run a scare campaign with the effectiveness of his predecessor.

Earlier this week Malcolm Turnbull opined that when you’re in a tax hole, stop digging. An alternative piece of advice for him might be: when you’re drowning, try swimming.

THURSDAY, 25 FEBRUARY 2016

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