Worried about Scott Morrison’s supposed opposition to PEP 11?...

Worried about Scott Morrison’s supposed opposition to PEP 11? Don’t be too concerned. Politicians have been saying one thing and doing the opposite for decades.

And people fall for it all the time. John Howard backflipped on the GST. Turnbull backflipped on the banking royal commission. Gillard on the resource superprofit tax. Rudd on refugees. Hawke’s stunning backflip not to make way for Keating. Keating’s backflip on negative gearing. (If each of these had been listed on the ASX, and you sold based on what a politician said, you would have kicked yourself.)

The list goes on and on.

So, as we wait to hear what the decision maker in all this, Minister KeithPitt, has to say about PEP 11 on the ABC tonight, let’s remind ourselves that what politicians say and what eventually happens are two completely different things. There are 26 instances from ScoMo alone!

** Note the Newspoll snippet. It actually says that ScoMo’s “agility” (which is code for willingness to backflip) has been good for the Coalition!

** Also note that some of these snippets go back years. There’s even onefor ScoMo from 2014.

As a sneak peek on a long article, here's my summary from the bottom:

So if you are selling your BPH shares for a loss, based on some one-liners from a PM that is an Olympic-standard back-flipper, maybe you should think again?

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And just like the ad that says “But wait, there’s more” … here are some headlines for other prime ministers – just to show that this is a time-honoured political strategy.







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It’s not just Australian politicians that rely on the backflip to spin a story and then conveniently change their mind to suit their needs.

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So if you are selling your BPH shares for a loss, based on some one-liners from a PM that is an Olympic-standard back-flipper, maybe you should think again?