Shopping cart with numbers falling off cliff

Labor Uses Inaccurate Figures to Justify Tax

It seems Labor is patching any holes necessary in time for the federal election.

Just recently, detailed policy documents regarding key elements of their tax reforms were removed from the ALP website, and instead replaced with simplified fact sheets.

This comes after Chris Bowen and the party were called out last week on their ‘dodgy assumptions’ on their Housing Tax — claiming that it would send housing prices down and drive the cost of rent up.

AAP reports that these details were deleted from the ALP website overnight, which Opposition leader Bill Shorten has called merely a part of a total website update — but his argument is transparent. As is the timing, as voters research and discuss their decisions for the federal election, which will take place this time next month.

Labor deletes rather than admits

According to an article released by The Australian on Wednesday, the Labor party had previously posted 100 paragraphs to their website on housing policy — including charts and diagrams which explained the negative gearing and capital gains changes.

Treasurer Josh Frydenberg told The Australian:

Not only has [Labor Treasury spokesman] Chris Bowen been exposed for using inaccurate figures to justify his housing tax, he has now been caught out trying to cover his tracks.

The whole operation seems fairly sneaky — choosing to delete the evidence rather than own up to the public that the figures were just merely wrong.

Labor caught out by ABS

According to the Liberal website, an archived version of Labor’s original policy reads as follows:

The most recent Australian Bureau of Statistics data shows that 93 per cent of new investment loans go to people purchasing existing housing stock.

This means that the vast bulk of investment does not increase supply or boost jobs. All it does is increase demand and the price of the existing homes, allowing investors to use tax subsidies to outbid owner occupiers and first home buyers from existing properties.

Labor were later called out by the ABS, who said ‘If you wanted to have those numbers you wouldn’t be able to get them from our statistics — because we don’t collect them.

Since then, people have been requesting that the original documents be reposting on the Labor website — for the sake of every Australian that owns or rents a home.

But of course, those issues are being swept under the rug and replaced with flashy new simplistic graphs that aim to raise no further questions.

We see right through it.

PS: That’s no steam engine coming for your job. Find out why your job could be at risk…no matter what you do for a living. And discover what you could do today to ensure your skills remain relevant tomorrow. Download your free report here.

The Australian Tribune Editorial

The Australian Tribune Editorial

The Australian Tribune is an unorthodox news service. Your Australian Tribune editorial team deliver the unfiltered stories that could impact your daily life — political and economic stories you’re unlikely to get anywhere else. And we’re not afraid to step on some toes to do it. We are honest, conservative and never dull. We are an independent service, meaning we don’t answer to shareholders or outside advertisers. This helps avoid conflicts of interest that inhibit mainstream sources, which keeps our voice independent. The Australian Tribune is owned and operated by Port Phillip Publishing.
The Australian Tribune Editorial

Latest posts by The Australian Tribune Editorial (see all)

Comments: 0

Your email address will not be published. Required fields are marked with *