Newspoll: Bill Shorten sticks with negative gearing changes despite drop in support for policy

Bill Shorten says he is sticking with his negative gearing changes despite a drop in support for his housing policy in today’s Newspoll.

Federal opposition leader Bill Shorten is sticking with his negative gearing policy. Picture: Colin Murty

Bill Shorten says he is sticking with his negative gearing changes despite a drop in support for his housing policy in today’s Newspoll.

An exclusive Newspoll conduct­ed for The Australian reveale­d a seven-point fall in suppor­t for the Opposition Leader’s centrepiece housing policy of limiting the number of properties that can be negatively geared amid a softening market. Although backer­s of Labor’s tax overhaul still outweigh opponents by 47 to 33 per cent.

Mr Shorten said there would be no changes to the policy and that its main focus was introducing greater fairness for first-home buyers.

“I make a point of not commenting on the polls: good, bad, or indifferent,” he told reporters in Melbourne today.

“We’ve got to create a level playing field and stop subsidised property investment. And the changes are not retrospective.

“ So if you’ve currently invested under current negative gearing laws, there will be no change. It’s a future change which will evenly apply to new investments, not existing investments.”

Labor holds a commanding lead in relation to which party has the better approach to housing affordability at 45 per cent to the Coalition’s 35 per cent.

The Newspoll, based on 1802 interviews with voters across the nation, shows 47 per cent are in favour of reducing tax breaks for property investors, down from 54 per cent in April last year, while opposition has climbed from 28 to 33 per cent.