00:00Well, throughout today, and the Prime Minister has made several appearances on both TV and
00:07radio earlier in the morning, we have heard him give much greater focus to particular
00:14modelling that was developed in 2019 for the Property Council.
00:19He says that that raises questions that he's yet to see answered about what potential impact
00:26changes to negative gearing could have on housing supply.
00:31He says that that particular study did raise questions about whether it would have a negative
00:37impact on overall housing supply.
00:39Looking at the detail of that modelling, it did in fact find that yes, there would be
00:46an impact on supply, but it would be very small and be outweighed by the impact on decreasing
00:55demand from investors on housing.
00:59Regardless, this is what the Prime Minister has been saying.
01:03And the issue of negative gearing is one of supply.
01:07Will it add to supply or will it decrease supply?
01:10The figures and research that has been produced by organisations like the Property Council
01:16indicate that it would reduce supply and therefore not contribute to solving the issue.
01:24And that's the issue.
01:25One thing that hasn't changed, although there has been a slight change in focus around discussions
01:30on this topic, is that the Prime Minister has not still closed the door on the prospect
01:36of any change heading up to the election.
01:40He says it's not part of their policy, but that's now.
01:44And of course, we've seen similar language in the past, particularly around discussions
01:48of stage three tax cuts, which the government did go on to change.
01:53So a very interesting choice of language here and something that we will continue to
02:00pay close attention to, as will many.
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