Govt ridiculous on negative gearing: Bowen

Shadow treasurer Chris Bowen believes the Turnbull government is looking "ridiculous" over its stance on not wanting to make any changes to tax concessions on housing investment.

The government is adamant that altering negative gearing would be harmful to the economy, a view it took to the last election, but fellow Liberal and NSW state planning minister Rob Stokes believes it is time for a review of the concession.

"The government just looks ridiculous. They should adopt a sensible approach (for the next election) .. I don't hold out much hope, but they should," Mr Bowen told Sky News on Sunday.