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‘What would make me cry’: Potential damage of a franking credits policy

Geoff Wilson has won his fight against Labor’s franking credits policy.

Bank shares and private health insurers have surged, bringing the Australian stock market to a 12-year high, after the Coalition won government over the weekend.

The founder of Wilson Asset Management Mr Wilson tells Ross Greenwood Labor’s franking credits policy had affected shares.

“Over the last four months… there seems to have been a buying strike.

“What would make me cry was the collateral damage that was going to be caused to various investors who have done the right thing all their life… then all of a sudden… their income was going to drop by 30 per cent.”

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