Labor has dumped changes to negative gearing and capital gains tax from the final draft of its 2021 party platform, as Anthony Albanese moves to scrap more of Bill Shorten’s economic policies ahead of the next election.

The Australian reports that, while the shadow cabinet has not yet determined its tax agenda for the Federal Election (which could be as early as this year), the draft party platform released this week excludes mentions of changes to negative gearing and capital gains tax. Franking credit reforms have already been dumped.

The draft Labor plan for the ¬nation will be debated and ultimately set by the party’s national conference starting on March 30. Labor’s Treasury spokesman, Jim Chalmers, told The Australian that tax policies Labor took to the 2019 election would not be retained.

Business groups and Labor MPs have tentatively welcomed the Opposition Leader’s ¬vision for the party, with the Property Council of Australia and Master Builders Australia warning that new taxes would hamper the nation’s post-pandemic economic recovery.so it’s actually not being led by investors,” she says. “That’s a difference that we need to take into account.”