Peter Swan: NSW University Emeritus Professor on the housing changes in the Australian federal budget

In Australia, housing supply is emerging as a key issue, for yesterday's new Labor Government Budget. It's raising taxes on investment properties and some trust funds - to give working Australians a $250 tax break. 35,000 fewer homes are expected to be built, despite net migration of 300,000 people a year. New South Wales University Emeritus Professor, Peter Swan, says they're destroying the rental industry. "All citizens are going to have to put up with much higher inflation - not due to the war, but due to excessive Government expenditure."   LISTEN ABOVESee omnystudio.com/listener for privacy information.