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You can find the current article at its original source at http://www.theguardian.com/australia-news/live/2016/mar/02/tony-abbott-flabbergasted-at-submarine-purchase-delay-politics-live
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| Labor targets Scott Morrrison over negative gearing – question time live | |
| (35 minutes later) | |
| 4.17am GMT | |
| 04:17 | |
| Further questions have been placed on the notice paper. | |
| Labor is moving now in the House to stir the pot on marriage equality. I’ll keep an ear on that obviously, but I think it’s more important right now that I give you a quick summary of the implications of that question time session. Be back with that in a minute. | |
| 4.14am GMT | |
| 04:14 | |
| Labor’s Jenny Macklin, to the prime minister. | |
| Q: Isn’t it the case that by not addressing what the treasurer calls excesses or enthusiasms in negative gearing the prime minister is choosing to protect tax breaks for people buying their seventh house instead of protecting older Australians from cutting to their pensions? | |
| Turnbull says housing affordability is a big issue, but it’s predominantly a state issue because its about land release and zoning. | |
| He insists Labor hasn’t thought through the consequences of its negative gearing policy. | |
| The treasurer spoke earlier about the apartment developments. And the fact that most of the buyers for apartments in most of our cities, particularly in close to the city where the member for Sydney’s electorate is and where my electorate is, are investors, because the properties are typically rented out. They’re rental properties. | |
| What the Opposition’s policy will do is have this very adverse effect. It will have this very adverse effect. The Opposition’s policy would mean that investors would be able to buy an apartment off the plan from Meriton or Mirvac or somebody like that, but then when they chose to sell that apartment they would not be able to sell it to an investor. Yet that is the market. So that would have the consequence of not only reducing the value of those apartments on the resale, but it would also start progressively reduce the stock of housing that was available for rental. | |
| 4.07am GMT | |
| 04:07 | |
| 4.01am GMT | |
| 04:01 | |
| I missed excesses becoming enthusiasms in that press conference earlier today. | |
| Neat-o. | |
| Updated | |
| at 4.02am GMT | |
| 3.59am GMT | |
| 03:59 | |
| A Dorothy Dixer on cyber security. | |
| Bowen is back on negative gearing. Given the treasurer today has redefined “excesses” of negative gearing as “enthusiasms” – will the treasurer now outline what the enthusiasms are? | |
| Scott Morrison says he spoke today about distributions in negative gearing. | |
| I said you can call them excesses, you can call them enthusiasms, you can call them whatever you like. They can refer to it however they wish. I simply made the point that across the income spectrum different Australians engage with negative gearing at different levels of activity. There’s no great shock about that. | |
| 3.54am GMT | 3.54am GMT |
| 03:54 | 03:54 |
| Chris Bowen has asked the treasurer whether or not he knows what negative gearing is given earlier he described it as an “entirely legitimate practice to offset the cost of earning an income against that income.” (He did, actually. A slight swerve into incoherence.) | Chris Bowen has asked the treasurer whether or not he knows what negative gearing is given earlier he described it as an “entirely legitimate practice to offset the cost of earning an income against that income.” (He did, actually. A slight swerve into incoherence.) |
| Q: Is the treasurer aware that that is not negative gearing? Does the treasurer know what negative gearing is? | Q: Is the treasurer aware that that is not negative gearing? Does the treasurer know what negative gearing is? |
| The treasurer thinks people aren’t interested in school boy debating tricks, they are interested in real developments in the economy. | The treasurer thinks people aren’t interested in school boy debating tricks, they are interested in real developments in the economy. |
| 3.42am GMT | 3.42am GMT |
| 03:42 | 03:42 |
| Labor’s deputy leader Tanya Plibersek wonders if the prime minister eventually caves in and does nothing to negative gearing this will be a co-captain’s call. She means that Tony Abbott will have effectively forced Turnbull’s hand. | Labor’s deputy leader Tanya Plibersek wonders if the prime minister eventually caves in and does nothing to negative gearing this will be a co-captain’s call. She means that Tony Abbott will have effectively forced Turnbull’s hand. |
| Speaker Smith notes this last reference has breached the irony limits. | Speaker Smith notes this last reference has breached the irony limits. |
| The prime minister opens on Labor’s negative gearing policy, and the socialist paradise offered after the next election. | The prime minister opens on Labor’s negative gearing policy, and the socialist paradise offered after the next election. |
| 3.36am GMT | 3.36am GMT |
| 03:36 | 03:36 |
| Two Dorothy Dixers about thuggish union behaviour on building sites. One for Christopher Pyne and a second for trade minister Steve Ciobo. | Two Dorothy Dixers about thuggish union behaviour on building sites. One for Christopher Pyne and a second for trade minister Steve Ciobo. |
| 3.34am GMT | 3.34am GMT |
| 03:34 | 03:34 |
| Another question from Bowen to Morrison about negative gearing. | Another question from Bowen to Morrison about negative gearing. |
| Q: Today, the treasurer said in reference to Labor’s negative gearing reforms: “Obviously those who are more engaged in negative gearing have higher incomes than those who are on modest incomes.” Is the treasurer aware that is the point? | Q: Today, the treasurer said in reference to Labor’s negative gearing reforms: “Obviously those who are more engaged in negative gearing have higher incomes than those who are on modest incomes.” Is the treasurer aware that is the point? |
| Morrison says Labor’s policy benefits wealthy investors and stings modest investors. That’s a bad policy, he reasons. | Morrison says Labor’s policy benefits wealthy investors and stings modest investors. That’s a bad policy, he reasons. |
| 3.29am GMT | 3.29am GMT |
| 03:29 | 03:29 |
| Meanwhile, down the back. | Meanwhile, down the back. |
| 3.26am GMT | 3.26am GMT |
| 03:26 | 03:26 |
| Tasmanian independent Andrew Wilkie. | Tasmanian independent Andrew Wilkie. |
| Q: My question is specifically to the prime minister because the community wants to hear his answer. PM, I’ve just given notice of a private member’s bill to combat poker machine problem gambling that would bring in the $1 maximum bet and mandatory pre-commitment. Since poker machine gamblers are concerned, will you support the bill or at least allow a debate on it? | Q: My question is specifically to the prime minister because the community wants to hear his answer. PM, I’ve just given notice of a private member’s bill to combat poker machine problem gambling that would bring in the $1 maximum bet and mandatory pre-commitment. Since poker machine gamblers are concerned, will you support the bill or at least allow a debate on it? |
| Turnbull says gambling is a state issue. He throws then to human services minister Alan Tudge, who doesn’t care for mandatory pre-commitment. | Turnbull says gambling is a state issue. He throws then to human services minister Alan Tudge, who doesn’t care for mandatory pre-commitment. |
| Alan Tudge: | Alan Tudge: |
| I think the problems of the future will come from the online environment where as you would be aware we have an inquiry into that and we will be responding to that shortly. | I think the problems of the future will come from the online environment where as you would be aware we have an inquiry into that and we will be responding to that shortly. |
| 3.21am GMT | 3.21am GMT |
| 03:21 | 03:21 |
| Shadow treasurer Chris Bowen is up now on negative gearing. Actually he’s up now with a gratuitous crack against Scott Morrison. He wonders whether the treasurer is one excess that the government can deal with? | Shadow treasurer Chris Bowen is up now on negative gearing. Actually he’s up now with a gratuitous crack against Scott Morrison. He wonders whether the treasurer is one excess that the government can deal with? |
| The question infers there’s a division in thinking between Turnbull and Morrison on negative gearing: Morrison wants to act, Turnbull doesn’t. | The question infers there’s a division in thinking between Turnbull and Morrison on negative gearing: Morrison wants to act, Turnbull doesn’t. |
| Morrison tells Bowen he’s not rushing to failure, unlike the Labor party. | Morrison tells Bowen he’s not rushing to failure, unlike the Labor party. |
| 3.15am GMT | 3.15am GMT |
| 03:15 | 03:15 |
| Two Dorothy Dixers on growth. | Two Dorothy Dixers on growth. |
| 3.14am GMT | 3.14am GMT |
| 03:14 | 03:14 |
| Shorten comes back with the obvious question: so was the former prime minister’s version of events in The Australian this morning wrong? | Shorten comes back with the obvious question: so was the former prime minister’s version of events in The Australian this morning wrong? |
| Malcolm Turnbull: | Malcolm Turnbull: |
| The chief of the defence force confirmed yesterday, as honourable members would have noted, that there has been no delay to the future submarine program. The actual delivery date, the first future submarine, will depend naturally on the outcome of the competitive evaluation process which is under way and that reality has not changed. | The chief of the defence force confirmed yesterday, as honourable members would have noted, that there has been no delay to the future submarine program. The actual delivery date, the first future submarine, will depend naturally on the outcome of the competitive evaluation process which is under way and that reality has not changed. |
| 3.08am GMT | 3.08am GMT |
| 03:08 | 03:08 |
| Question time | Question time |
| It being 2pm. | It being 2pm. |
| Bill Shorten opens today on the leak to The Australian about submarines. Has this gone to the police? | Bill Shorten opens today on the leak to The Australian about submarines. Has this gone to the police? |
| It has, as a matter of fact. | It has, as a matter of fact. |
| Malcolm Turnbull: | Malcolm Turnbull: |
| I can confirm that the secretary of the department of defence has advised me that he has initiated an investigation which will obviously be conducted by the Australian Federal Police into the apparent leak of these classified documents, that were referred to in the newspaper. | I can confirm that the secretary of the department of defence has advised me that he has initiated an investigation which will obviously be conducted by the Australian Federal Police into the apparent leak of these classified documents, that were referred to in the newspaper. |
| I should also advise the House, Mr Speaker, that the secretary of defence and the chief of the defence force have advised the ... their advice to the government since 2013 has been that it was highly unlikely the first of the future submarines could be delivered by 2026, and an extension of life for the Collins class submarine would almost certainly be required. | I should also advise the House, Mr Speaker, that the secretary of defence and the chief of the defence force have advised the ... their advice to the government since 2013 has been that it was highly unlikely the first of the future submarines could be delivered by 2026, and an extension of life for the Collins class submarine would almost certainly be required. |
| The secretary and the chief of the defence force further advised us that a study commissioned by the defence minister confirmed in 2012 that an extension of life for the Collins submarine was feasible and practical. | The secretary and the chief of the defence force further advised us that a study commissioned by the defence minister confirmed in 2012 that an extension of life for the Collins submarine was feasible and practical. |
| The department of defence and the Australian Defence Force have since that time worked on the basis that an extension of life would be undertaken as the only practical option to ensure that there was no capability gap between the Collins and the future submarines. | The department of defence and the Australian Defence Force have since that time worked on the basis that an extension of life would be undertaken as the only practical option to ensure that there was no capability gap between the Collins and the future submarines. |
| (Take that Tony.) | (Take that Tony.) |
| 2.52am GMT | 2.52am GMT |
| 02:52 | 02:52 |
| People just being mean now. | People just being mean now. |
| Christie right now. https://t.co/BfMaG4y5ci | Christie right now. https://t.co/BfMaG4y5ci |