DR David Gillespie has been named on a list of property-rich pollies by authors of a new book about the state of Australia’s economy and the nation’s housing affordability crisis.
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An analysis on the property holdings of Australia’s federal politicians compiled by property authors Lindsay David, Paul Egan and Philip Soos suggests they have a vested interest in real estate that negatively influences policy decisions, particularly in relation to affordable housing.
Owning 17 investment properties, Dr David Gillespie was ranked at number two, ahead of Clive Palmer, of the top 20 members of the Senate and House of Representatives with significant property holdings.
Nationals senator Barry O’Sullivan is Parliament’s biggest property owner, with a 50-strong investment portfolio.
“It is evident that politicians are heavily invested in the property game, with the 226 members in both houses of parliament with an ownership stake in a total of 563 properties - an average of 2.5 properties per member, conservatively estimated at around $300 million,” the analysis suggested.
“When the top 20 members of the landed gentry in federal parliament own 191 properties, it is difficult to believe that politicians will address the real causes of housing unaffordability, despite the recommendations from government reports.”
Dr Gillespie responded to the claims by saying he has invested in a range of areas with regard to his investment and superannuation portfolio, including property.
“My wife and I worked very hard in our business throughout a long medical career spanning over three decades. I think it is important that some commentators have a sense of perspective when attempting to judge our elected representatives,” Dr Gillespie said.
“I have a family, so do I now exclude myself from helping to develop good policies for families?
“I am a doctor, so should I now abstain from helping to develop good health policies?
“I am a taxpayer, so should I be excluded from the process to improve taxation and finance policies?
“Like a significant part of the population, I have an elderly mother, so am I also to be excluded from developing good policies that improve the lives of our seniors and aged care?
“I have a farm, so does that mean I should ignore what I have learned about the rural sector and stop working to develop good agricultural policies?
“For many, these very things help define me, and it is these and the policies outlined by my party, that saw the overwhelming majority of the local community vote for me at the election late last year.”
