At a debate held at the National Press Club in Canberra this week, both the Federal Government and the Opposition said they would not consider abolishing negative gearing.

This is one of those topics that gets dragged out of the cupboard every so often and it is nice to see that it has been laid to rest by both parties. Negative gearing was abolished by Labor in 1985 but reinstated in 1987 after rents increased by 57.5 per cent in Sydney, by 38.2 per cent in Perth and by 32.0 per cent in Brisbane.  At the same time building approvals fell by 13.8 per cent.

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