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Penny Wong Has A Really Simple Housing Affordability Question For The Government

Torched.

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On Monday's Q&A Labor senator Penny Wong asked the most basic question about the government's approach to housing affordability: Why is the current tax system favouring property moguls over first home buyers?

Is it time for a re-think of the tax concessions on offer through negative gearing? @SenatorWong & @SenatorFifield… https://t.co/wrMBZaPDwo

Wong sparred with senior government minister Mitch Fifield over the issue of negative gearing after treasurer Scott Morrison earlier in the day said the tax arrangement would remain in place in the upcoming budget.

Labor has promised to scale back negative gearing, which allows wealthy investors to reduce their taxable income using losses on their investment properties.

So Wong homed in on the issue, asking a really simple question about how the current system is set up for young first home buyers.

ABC Q&A

Q&A host Tony Jones turned to senator Fifield for a response, who just sat there, gave a bit of a wiggle and a smile while the audience applauded.

ABC Q&A

No but really why though?

Mark Di Stefano is a media and politics correspondent for BuzzFeed News and is based in London.

Contact Mark Di Stefano at mark.distefano@buzzfeed.com.

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