The first of two days of hearings into Labor's capital gains tax and negative gearing changes has seen qualified support from a handful of economists, but condemnation from business groups.
Some economists say the plan to overhaul negative gearing and capital gains tax has some design flaws but is better than the current system. But a coalition of business groups say the changes will cripple investment and stifle productivity.
Despite the political gift to the Opposition of the government's broken promises on tax, the Coalition is struggling against the continued surge of One Nation.
Tim Wilson is the Shadow Treasurer and he spoke to 7.30's Sarah Ferguson.
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