Albanese:

Can I make this point. Peter’s suggestion this has been a problem that developed in the last two years is a nonsense. Everyone watching this program knows that this has been developing for a long period of time. We have not had enough homes been built. The former government did not bother to have a housing minister for half the time they were in office. What we’ve done since we came to office, is look towards the big issue which is supply.

Q: Can I ask you to come to the question, which is about the tax breaks for investors. Negative gearing and the Capital Gains Tax discount. Why aren’t you willing to touch those?

Albanese:

The experts say that what that potentially do is is diminish supply, not increase it. That’s why the key to fixing the housing issues is supply. That is why Peter speaks about his infrastructure plan. We’ve already announced and are rolling out two rounds of our housing infrastructure fund, doing exactly that, making sure that sewerage and energy and that is fixed up, as well we work with states and territories to increase density where it is appropriate to make sure more homes can be built.

Q: Coming back to the tax treatment of housing investment, Mr Dutton, do you have any problem with investors using tax breaks to buy multiple properties, four, five, six?

Dutton:

Let me come to that. Anthony, your government modelled negative gearing changes and CGT. The Treasurer has done that.

Albanese:

That not right. It is Under our public service, we rigghtly value the public service, we value them coming up with ideas and various assessments, that is what happened. (There is an argument over whether it was commissioned or modelled)

I have been very clear of our position and why that is the case.

Speers:

Was it modelled?

Albanese:

It certainly wasn’t commissioned by us.

Dutton:

It was modelled by the Government. That’s publicly available. This Prime Minister has a problem with the truth. It’s not just in relation to this debate. There are many aspects that you could pick up in the course of this campaign. That’s where the Prime Minister misled the Australian people….

Speers ignores him:

Multiple properties, all these tax breaks no, problem with that?

Dutton:

I have stated very clearly, we want a sustainable housing market, which includes rental stock. Now, if you want to cut out negative gearing, as the Labor Party and the Greens would love to do, you will stop investment taking place for properties that are ultimately rented by young Australians. All of us started renting something, somewhere, and the dream was to buy a home but they lost that dream. If we stop negative gearing we will drive up the cost of rents they are already up 18% under this government. I want to make sure we have an investment class that is an asset class that is able to be invested in. The Greens, who likely could form a minority government with the Prime Minister if he is successful at this election, they have as a stated policy that they want to abolish negative gearing.