Michael Thompson

There is.

Okay.

As far as, maybe let's deal with negative gearing first.

Because that could be gone.

Yeah, because it's not completely off the table, is it?

Maybe explain to us how negative gearing worked previously because it still does exist.

Okay.

I want you just to explain this a little bit for me because we obviously, we know that consumer confidence is important, right?

Because people believe that a paycheck is coming in every month.

They're more likely to keep spending and keep boosting the economy.

It's a cycle, right?

It is the same for businesses.

If things look promising, a company is more likely to invest, which in turn boosts the economy.

Does it still hold true?

Given now, it feels like we've been talking about pessimistic consumers for such a long time.

I can't remember a time when you have not been describing us as a miserable bunch.

Grumpy.

Yeah, miserable bunch.

Yeah, okay.

And I think for the purposes of this conversation, we will just look at kind of how it works from now onwards rather than those who already hold investment properties because the way that negative gearing works is largely unchanged for those who have already been in the system prior to the changes being introduced by the budget.