But the IMF’s warning might already be too late, according to Centre for Independent Studies chief economist Peter Tulip.
“It may be a bit out of date when it says it may lead to price pressures … we would now say it is leading to price pressures,” he said. “So the premise of what [the IMF] is arguing would be substantially stronger now.”
…But Tulip said the Albanese government would be better off listening to the IMF’s other suggestions that aim to boost housing supply, like relaxing zoning and building restrictions and expediting approvals for housing developments.
“It is not at all obvious that limiting the [5 per cent deposit] guarantee to new dwellings would boost supply. A lot of the new supply – what is technically new supply – would be built anyway,” he said.
“[Changes to zoning restrictions] get to the mainstream policy recommendation for addressing what is one of Australia’s very top social problems, and there is substantial research supporting what the IMF is recommending there,” he said. “If you change zoning rules, then construction follows.”
… Tulip said changing the CGT discount would have a “tiny” impact on housing affordability.
“There are fiscal policy and tax policy reasons for revisiting the CGT discount, but it does not belong in a discussion of housing affordability.”
Meanwhile, the AFR’s Lea Jurkovic informs us that the Centre for Independent Studies (CIS) chief economist Peter Tulip thinks that this warning is too late! He thinks it’s already happening.
As this was all playing out on Monday, Taylor gave a talk at the Centre for Independent Studies in Sydney where he talked a lot about our too high migration numbers and making sure Australia did not bring in people who hate our values and seek to change us for the worse.
Speaking in a broad-ranging address at the Centre for Independent Studies on Monday, Liberal leader Angus Taylor had also raised the need for a more flexible and less expensive approach to childcare.
Angus Taylor delivered his first public speech as opposition leader at the Centre for Independent Studies in Sydney yesterday afternoon, where he said the Coalition could fight both One Nation on the right and the community independents on the left. “We start by recognising the challenge, which is that we do need to change,” Taylor said.
New Liberal leader Angus Taylor speaking at The Centre for Independent Studies yesterday.
Australian think tanks such as the Institute of Public Affairs and the Centre for Independent Studies (CIS) could be linked to the Atlas Network, Walker said on Monday.
In a submission to the same inquiry, the CIS said its research was fully independent and rejected the claim its work was influenced or directed by the Atlas Network or any external body.
Peter Tulip’s media comments on 5% deposit scheme, further Angus Taylor speech coverage