Mr TURNBULL (Wentworth—Prime Minister) (14:33): I note the honourable member's question, and I just refer him to his own policy document, which states that the combination of the capital gains discount and negative gearing—so it asserts—has led to overinvestment in loss-making investments on existing property. Ms MacTiernan interjecting— Mr TURNBULL: So I am intrigued that he has taken an interest in the quote from the Treasury official. It is entirely at odds with his own policy document. He knows that his policy will drive down housing values. It will put at risk the most important asset— Ms MacTiernan interjecting— The SPEAKER: The member for Perth will cease interjecting! Mr TURNBULL: of most Australian families. The honourable member knows that, and he knows that the only investors favoured by his policy are not the fitters or the steelmakers, or the teachers or the nurses, who he talked about yesterday. The only ones he favours are people with large investment incomes. He really is not the workers' friend— Ms MacTiernan: Tony's tradies! The SPEAKER: The member for Perth is now warned! Mr TURNBULL: He is setting up as the workers' foe and, whether deliberately or ignorantly, he has served to give a privileged position to those with substantial investment incomes. I do not believe that the homeowners of Australia could feel safe with their major asset put at risk by this would-be Treasurer.