The incredible shrinking Malcolm

24 March 2017

Malcolm Turnbull has dealt another cruel blow to young Australian first home buyers who might have been hoping that the Federal Government would take some action to help them get into the housing market.

The Federal Government has major policy levers at its disposal when it comes to housing affordability, particularly negative gearing, and the Prime Minister repeatedly refuses to reform it, preferring to buck pass to the State and Territory Governments.

The Prime Minister was given a chance this morning at a doorstop to take some leadership on housing affordability.

He declined.

JOURNALIST: On housing affordability, is that a federal or state government responsibility?
TURNBULL: Well, the answer is that it is overwhelmingly a state responsibility because the states control planning.

As the Treasurer prepares to meet with his State and Territory counterparts to discuss among other things, housing affordability, the Prime Minister has proceeded to throw him under the bus by indicating that its back to blaming the State Governments on housing supply and dont worry about Australias generous tax concessions for property investors.

Thats leadership, Malcolm Turnbull style.