Assistant Treasurer Daniel Mulino has hit out at critics of the government’s housing tax changes, accusing them of exaggerating the property downturn. Mulino’s comments to 7NEWS come as those looking to buy a home brace for another Reserve Bank decision on interest rates. “Some of the commentary exaggerates what’s happened to date,” Mulino said. Yale educated with a PhD in economics, the assistant treasurer spoke with 7NEWS podcast The Issue about Australia’s property market storm in the five months since the government announced its housing tax changes. “The tax distortions needed to be addressed in addition to building more houses,” he said. However, industry data now suggests new home sales slumped 17.5 per cent in the September quarter.
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