PM Turnbull Takes Heat For Suggesting Parents “Shell Out” And Pay For Their Kids' Houses

Though Treasurer Scott Morrison left negative gearing untouched in the Federal Government’s 2016 Budget, it will no doubt remain a prickly subject as we approach that July election.

As The Age reports, Prime Minister Malcom Turnbull incited the fury of his Labor rivals during an interview with ABC Melbourne radio host Jon Faine, during which the presenter noted that his kids had been “locked out” of the housing market as a result of negative gearing.

(Negative gearing being the process by which property investors – usually, baby boomers - write off the interest of their mortgage against other sources of income, leading – some say – to increased property prices for young people trying to purchase their own home.)

PM Turnbull tackled Faine’s complaint with the following: "Well you should shell out for them. You should support them, a wealthy man like you.”

You can listen to their "Morning After" chat below - and no, it's definitely not as sexy as the title would indicate.

Obviously, social media had a lot of feelings about the proclamation, as did Opposition Leader Bill Shorten, who brought up the comments in question time, to suggest that the Prime Minister was out of touch.

"Is that really the Prime Minister's advice for young Australians struggling to buy their first home? Have rich parents?"

The PM retaliated by accusing Labor of waging a war against “hardworking Australians”.

"They are sneering at the hardworking Australians who seek to make something for their children,” he said.

“And they dare to talk to us about being out of touch. This is a war - a political war - they want to commence against aspiration, against ambition, against enterprise.”

Over in the Senate, in a move that wasn’t entirely chill, Labor’s Doug Cameron brought the Prime Minister’s daughter into the fray, noting that Daisy Turnbull Brown managed to purchase a $2.7 million subpenthouse in 2008, aged 23, on a history teacher’s salary (of about $65,000 a year).

"There was a bit of intergenerational equity getting moved in that one, because there is no doubt that Ms Turnbull Brown had no chance, under her own steam, of getting such a penthouse with stunning views,” he argued.

The Prime Minister’s immense wealth will no doubt continue to be a point of contention in the simmering class war, but Nationals Senator John Williams also called on Senator Cameron to admit to owning.his own pricey, waterfront property Canberra.

So, yes, expect much finger wagging and wallet-weighing for weeks and weeks to come.

Photo: ABC.