IQ Capital Election Summary
Regardless of your political persuasion, the election result has demonstrated Australians want stability and certainty – as the majority voted to maintain established economic and tax policies. Evidently, the thought of radical changes to the rules was not desirable for those wanting to invest in their own future wellbeing, or those that have spent the last decades planning for their retirements.
We learned that the 2019 result was driven by more than politics. The result seemed to be motivated by consistency and a sense that people want to go about their lives knowing what the rules are, what the rewards may be and that the rules won’t suddenly be changed. We want stability. We want normality.
A major shift from polls was a sign that workers in regional Queensland want the Adani mine jobs, further indicating the real sentiment on the ground is that people prioritise the ability to earn and provide for their families, even if it meant casting their vote away from their historical party. This was also evident in swing voters opting to reject changes to negative gearing, to protect their financial security.
Unfortunately, elections can be very divisive. Whilst not all may be satisfied with the result, Scott Morrison has ascended as the popular choice and he has commended some initiatives that were brought to the table by other parties in the run-up, however also highlighted that they needed further research to be ‘real-world’ practical.
We hope that the Liberal government takes on the wider views of Australia to make appropriate contributions where the environment is concerned. We want to rest assured that regardless who puts it forward, a good policy wins the day. We are tired of tribal politics.
As we move on, the election result has at least given us an opportunity, to plan for our wellbeing knowing what the status quo is.
At IQ Capital we were pleased to hear Scomo’s victory speech acknowledging hardworking Australians, as the words spoke directly to many of our clients whose financial interests we serve:
“It has been those Australians who have worked hard every day, they have their dreams, they have their aspirations, to get a job, to get an apprenticeship, to start a business, to meet someone amazing.
To start a family, to buy a home, to work hard and provide the best you can for your kids. To save your retirement. And to ensure that when you’re in your retirement, that you can enjoy it because you’ve worked hard for it.”
[We’re] going to get back to work for the Australians that we know go to work every day, who face those struggles and trials every day.
They’re looking for a fair go and they’re having a go and they’re going to get a go from our Government.Every single day, they are who we’ll have right in front of us as we put in place and continue the policies, which we know will keep our economy strong, to guarantee the essentials that Australians rely on.”
The good news for many of our clients is that there are no changes to negative gearing or franking credits. As one commentator stated on election night; most hardworking Australians that are looking after themselves and planning for their own futures, just want the government to get on with their job and let us get on with ours.
If you would like further information about how the election results will affect your financial situation, we have compiled a few useful links. Alternatively, feel free to give us a call if you wish to discuss your situation in detail.