Greens leader Adam Bandt says regardless of what the PM is saying, Labor will deal with the Greens in a hung parliament. Photo: Michelle Kroll.
Adam Bandt has declared housing affordability to be the most urgent issue of the election campaign and says he will make action on negative gearing and capital gains tax discount reform a priority in a minority government.
The Greens leader also moved to assure voters that Labor would enter negotiations with his party if the federal election returned a hung parliament.
He said the “unfair tax breaks” make it easier for a wealthy property investor to buy their fifth or sixth home than for a renter to buy their first.
Mr Bandt said the major parties are refusing to address the issue but will be forced to if the election result means a minority federal government.
“Nothing is more urgent than housing,” he said.
“We are refusing to join in this battle of the Band-Aids between Labor and the Liberals.
“The Greens will make reforming negative gearing and the capital gains tax discount a priority in the next parliament, including when there’s a minority government.
“This reform has always been urgent, but the threat of a Trump-fuelled attack on Australian renters and first-home buyers in the next few months now makes this a matter of housing life and death.
“Investors with big money behind them could jump into the housing market because of these incentives and lower interest rates, while first homebuyers with their life savings would be priced out of the already overheated market.
“We need to act urgently – within weeks after the election – to protect renters and first-home buyers from Trump’s fallout; otherwise, the door may be slammed shut forever.”
The Greens leader used an address at the National Press Club on Wednesday (9 April) to say the current election offered a “once in a generation” chance to create a country where everyone has a right to the basics.
“Food, health, and a home,” he said.
“A safe climate and a healthy environment.
“An economy which puts people before the profits of the obscenely wealthy and the excessively profitable.”
He said too many Millennial and Gen Z homebuyers find themselves locked out of the market because of tax benefits given to property investors.
The Greens will use their crossbench power in a minority government to force urgent changes to benefit first homebuyers.
Under the Greens plan, primary places of residence would not be subjected to capital gains tax and a single investment property would remain covered by negative gearing arrangements and the 50 per cent tax discount.
“Our proposal is a serious attempt to restore everyone’s economic rights, giving younger generations and renters a chance at home ownership while protecting mum and dad investors,” the Greens leader said.
In answering questions after his address, Mr Bandt rejected the idea that Labor would not enter any arrangements with the Greens in the event of a hung parliament.
Anthony Albanese has repeatedly ruled out doing any deals with the Greens.
Mr Bandt said the Prime Minister would have to “play well” in a minority government.
“I would be astounded if the Prime Minister or anyone else refused to respect the parliament that the Australian people choose,” the Greens leader said.
“If he can convince 51 per cent of the population to vote for him, then OK.
“But that’s not what’s happening … And with more people saying they want more voices at the table as part of a strong crossbench, he’s going to have to learn to play well with others.
“We will go into any discussions with an open mind, but with a clear platform that we’re going to put on the table.
“And that’s what we’re doing in advance of the election.
“We’re letting people know that, in this coming minority parliament, we’re saying, if you vote for the Greens, here’s what you’re going to get.”
But Mr Bandt emphasised that the Greens would not be entering into any arrangements with the Coalition.
“The red line is we won’t support Peter Dutton,” he said.
On the campaign trail in Sydney, the Prime Minister was asked to comment on Mr Bandt’s suggestion that Labor will have to deal with the Greens if there’s a hung parliament.
He dismissed the Green leader’s remarks.
“Adam Bandt is trying to make himself relevant, I don’t blame him for that. That’s up to him,” the Prime Minister said.
“All the minor parties will try to do that.
“There’s nothing new about the Greens talking themselves up because sometimes the media follow that up for whatever reason. It makes things a bit more interesting.
“But the truth is, our objective is to hold onto the 78 seats we have and currently build on it.”
