Opened the debate
Cadell argued that the government's budget papers indicated a reduction of 35,000 homes due to taxation policies. Cadell contended that removing negative gearing in a market with vacancy rates below two per cent and high immigration would cause rents to rise significantly, contrary to government projections. Cadell cited historical examples from Sydney, Perth, and New Zealand where similar policies led to rent increases. Cadell asserted that the policy disadvantaged young people seeking to enter the property market while benefiting politicians who already held assets.