The Hon Chris Bowen MP - Federal Member for McMahon
What's Happening Posted April 12, 2017.
There are many reasons why negative gearing and the capital gains tax discount need to be reformed. Housing affordability. Budget repair. And importantly, financial stability.
Financial stability is important because it maintains the smooth and efficient flow of funds between savers and borrowers, making the economy more resilient in the face of shocks. What the GFC taught economies around the world is that there is a real human cost of financial instability – financial distress for families, people losing their homes, business bankruptcies and high unemployment. If there is one thing Treasurer Scott Morrison should be focused on, it is keeping the financial system stable.
Yet the evidence is mounting that the government is...Read complete article »