They were copping it left, right and centre already from most reputable economists and the policy wasn't even formally approved yet. Plus the bigger fight to come with the ticket clipping industry who'd be outraged their golden goose of funds could be diminished.
Given the run of Newspoll losses I'd say a wise choice. They'd burn political capital they just don't have on a bit of a dud policy.
So what now? They've been called out (correctly) on prices that just lift demand. Yet Morrison et al explicitly state they don't want policies driving the price of housing down. They're in a bind.
