ERROL PARKER | Editor-at-large | Contact
Prime Minister Anthony Albanese is reportedly reconsidering the government’s position on negative gearing this week after early estimates suggest the savings could be used to purchase an additional submarine from the Americans.
The abolition of negative gearing could save the taxpayer upwards of $50bn with the flick of a pen but so far, previous governments have been unmotivated to renege on Peter Costello’s fiscal fellatio for property investors.
They have been unmotivated because various news media outlets have suggested it will cause irreparable damage to the supply of housing and kill the motivation for property investment, which will put people out on the street, allegedly.
Instead of purchasing property with the goal of renting it out at either a loss or to generate income, people could purchase property to simply live in, which is a left-wing concept according to those same media outlets.
Nevertheless, Anthony Albanese could be shaping up to be the first leader in a generation to have a positive intergenerational impact upon the Australian people. Not because he’s keen to actually help people overcome the existential problem of stable, affordable housing.
“Another submarine could be useful,” the Prime Minister told The Advocate during our fortnightly strategy meeting.
“I mean, we’re only buying them for two reasons, really. To deter and destroy. We’ve sent so much ore over to China and India, instead of building buildings, they’ve built warships. Now, we need something to sink those warships, which is why we got these submarines. They’re the Cadillac of subs, too. Not the Ford Fairline. Nor the extremely effeminate French ones that Malcolm wanted. They’re the real deal,”
“Not they’re telling me cutting negative gearing could save us enough money to buy an additional one? I’m listening.”
More to come.
