The only ‘success’ Pallas can claim from yesterday’s budget is the death of the privately funded rental accommodation sector in Victoria.
Landlords will be running for the hills, unable to make a quid out of residential property investment. They will be selling to owner occupiers and as a consequence there will be. Less rental properties available for tenants.
Pallas and Labor are the world champions of unintended consequences. It reminds me of Keatings big mistake on negative gearing tax changes which he had to reverse following a collapse in the private rental sector.
Pallas and Andrews are so desperate they have ignored the lessons of history. What would you expect from someone who took 7 years to complete a 3 year arts degree.
