‘You conned us’: Chalmers grilled on breach of electoral trust

Sky News Political Editor Andrew Clennell questioned Treasurer Jim Chalmers on negative gearing and the capital gains tax discount.

“It’s my clear understanding that you will be dropping negative gearing for existing properties going forward, and you will be dropping the capital gains tax discount for transactions going forward,” Mr Clennell said on Sunday Agenda.

“Do you concede that’s an egregious broken election promise.

“You conned us, didn’t you? I mean, you’ve always wanted to end negative gearing.

“Did you personally harbour an ambition to do this?

“This is the biggest breach of electoral trust since Julia Gillard's no carbon tax under a government I lead promise. After that, Julia Gillard's numbers, as you know, went south in a big way. Are you ready for that sort of backlash?

“Young people who want to buy an investment property won’t be able to get the tax break. So aren’t you actually entrenching intergenerational inequity?”