The Parliamentary Budget Office has warned the Greens its proposals could have dire consequences for the housing sector and the economy at large.
“If Labor wants our support on its housing bill, it needs to come to the table on the rental crisis and on building more public and affordable housing,” Mr Bandt will say.However, the Parliamentary Budget Office, which has costed the Greens’ policies, has simultaneously warned the minor party that its proposed abolition of negative gearing and CGT deductions could have dire consequences for the housing sector and the economy at large.
“A sizeable fall in house prices could have substantial fiscal consequences and would affect both existing investors and owner-occupiers. In the absence of a welfare boost in the budget, another $43 billion would be used to double Commonwealth rent assistance. But the PBO warns this “could induce second-round effects on the economy, particularly inflationary impacts in the rental market, including possible increased rental income for landlords”.
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