Q. And which of these industries are the three most important for Australia’s economic future?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Mining | 67% | 77% | 67% | 61% |
| Agriculture | 58% | 57% | 59% | 58% |
| Tourism | 46% | 47% | 43% | 56% |
| Manufacturing | 37% | 30% | 40% | 36% |
| Construction | 25% | 26% | 26% | 31% |
| Finance | 21% | 18% | 23% | 17% |
| Retail | 17% | 18% | 17% | 12% |
| Telecommunications | 14% | 16% | 11% | 20% |
| Hospitality | 10% | 10% | 9% | 6% |
| Media | 1% | 1% | 1% | 1% |
| Don’t know | 4% | * | 4% | 3% |
Australia’s most important industries are thought to be mining (67%), agriculture (58%), tourism (46%) and manufacturing (37%). Opinions are consistent across voter groups in terms of order of importance.
Q. If the world has another GFC (Global Financial Crisis) and the Australian economy worsens, which of the following actions would be more likely to protect jobs and help the economy?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Increase Government spending on new infrastructure and services | 48% | 62% | 42% | 53% |
| Cut spending on infrastructure and services | 22% | 13% | 31% | 19% |
| Don’t know | 30% | 24% | 28% | 28% |
Respondents were more likely to want the Government to increase spending if there was another GFC. Support for increased spending was strongest among Labor voters (62%), men (55%) full-time workers (53%) and people earning over $1,600pw (55%).
Q. Do you think the Opposition Leader’s proposal to ditch the carbon tax but keep the personal tax cuts will -
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Help Australia’s economy | 44% | 19% | 73% | 11% |
| Hurt Australia’s economy | 30% | 58% | 8% | 67% |
| Don’t know | 26% | 24% | 19% | 22% |
44% think Tony Abbott’s proposal to ditch the carbon tax but keep the tax cuts will help Australia’s economy and 30% think it will hurt the economy. Opinions were closely associated with voting intention – 73% of Liberal/National voters think it will help the economy while 58% of Labor voters and 67% of Greens voters think it will hurt the economy.
Those on higher incomes are more likely to think it will help the economy – 50% of those on $1,600+pw compared to only 39% of those earning less than $1,000pw.
Q. If the Australian economy weakens and unemployment goes up would you approve or disapprove of the Government taking the following actions?
| Total approve | Total disapprove | Strongly approve | Approve | Disapprove | Strongly disapprove | Don’t know | |
| Reduce interest rates | 79% | 11% | 32% | 47% | 8% | 3% | 11%$ |
| Cut taxes for both individuals and businesses | 61% | 25% | 16% | 45% | 21% | 4% | 14% |
| Cut taxes on low and middle income earners to help with cost of living while offsetting the revenue loss with a carbon tax on the 500 big polluters | 61% | 27% | 26% | 35% | 15% | 12% | 12% |
| Introduce a mining tax on the big miners and use the money for govt. investment in infrastructure and social spending to stimulate the economy | 58% | 26% | 24% | 34% | 16% | 10% | 16% |
| Cut taxes on lower and middle income earners to help with cost of living with no offsetting carbon tax on the 500 big polluters | 51% | 33% | 15% | 36% | 24% | 9% | 16% |
| Cut taxes and cut Government investment in infrastructure and social spending | 39% | 43% | 12% | 27% | 30% | 13% | 18% |
Actions most approved were reduce interest rates (79% approve), cut taxes for both individuals and businesses (61%) and cut taxes on low and middle income earners to help with cost of living while offsetting the revenue loss with a carbon tax on the 500 big polluters (61%).
Cutting taxes while offsetting the revenue loss with a carbon tax was more popular than not offsetting the tax cuts with a carbon tax (61% to 51%).
The only action not approved by a majority was cutting taxes and investment in infrastructure and social spending (39% approve/43% disapprove). This was approved by 48% of Liberal/National voters but only 33% of Labor voters and 27% of Greens voters.
15
The Australian Economy
Q. Thinking about the state of the world economy, how do you think the Australian economy has performed over the last few years compared to other countries?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Total better | 70% | 77% | 70% | 85% |
| Total worse | 10% | 5% | 14% | 5% |
| A lot better | 31% | 41% | 27% | 48% |
| A little better | 39% | 36% | 43% | 37% |
| About the same | 16% | 17% | 15% | 8% |
| A little worse | 7% | 4% | 9% | 2% |
| A lot worse | 3% | 1% | 5% | 3% |
| Don’t know | 3% | 1% | 1% | 4% |
70% think that Australia’s economy has performed better than other countries over the last few years, 16% say about the same and 10% think it has been worse.
There were no substantial differences across demographic groups although those on higher incomes are a little more likely to believe it has performed better – 76% of those on incomes over $1,600pw compared to 67% of those earning under $1,000pw.
Q. How do you think the Australia Government has handled our economy over the last few years?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Total well | 54% | 82% | 34% | 81% |
| Total poorly | 39% | 13% | 62% | 12% |
| Very well | 9% | 22% | 2% | 16% |
| Quite well | 45% | 60% | 32% | 65% |
| Quite poorly | 26% | 11% | 39% | 8% |
| Very poorly | 13% | 2% | 23% | 4% |
| Don’t know | 7% | 6% | 4% | 7% |
54% think the Australian Government has handled the economy very well or quite well over the last few years and 39% very poorly or quite poorly. 82% of Labor voters, 81% of Greens voters and 34% of Liberal/National voters think the Government has handled the economy well. 62% of Liberal/National voters think the Government has handled the economy poorly.
60% of those aged under 35 think the Government has handled the economy well, compared to 51% of those aged 35-54 and 51% of those aged 55+
15
Likelihood of Another GFC
Q. How likely do you think it is that there will soon be another Global Financial Crisis (GFC) similar to the one that occurred in 2009?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Total likely | 47% | 39% | 53% | 41% |
| Very likely | 20% | 17% | 22% | 12% |
| Fairly likely | 27% | 22% | 31% | 29% |
| About 50/50 | 39% | 40% | 40% | 36% |
| Not very likely | 8% | 12% | 5% | 15% |
| Don’t know | 7% | 9% | 2% | 9% |
47% believe that another GFC is very or quite likely and a further 39% think it is a 50/50 possibility.
There were no significant differences across demographic groups.
15
Stimulus Spending
Q. If there is another Global Financial Crisis, do you think the Australian Government should undertake the same sort of stimulus spending they did in response to the 2009 GFC?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Yes | 36% | 48% | 26% | 56% |
| No | 39% | 24% | 56% | 23% |
| Don’t know | 25% | 28% | 18% | 21% |
In the event of another GFC, 36% support stimulus spending and 39% oppose. About half of Labor and Greens voters support stimulus spending but over half of Liberal/National voters oppose.
Lower income earners are more likely to support stimulus spending – those earning under $1,000pw split 43% support/32% oppose while those earning over $1,000pw split 34% support/42% oppose.
8
Ratings of the Economy
Q. From what you have read and heard, how would you rate the state of the economy of Australia?
And how would you rate the state of the economy of the USA?
And how would you rate the state of the economies of the European countries?
| Australia | USA | Europe | |
| Total getting better | 32% | 5% | 5% |
| Total getting worse | 37% | 84% | 70% |
| Getting a lot better | 7% | 1% | 1% |
| Getting a little better | 25% | 4% | 4% |
| Neither getting better nor worse | 28% | 7% | 14% |
| Getting a little worse | 27% | 26% | 27% |
| Getting a lot worse | 10% | 58% | 43% |
| Don’t know | 2% | 4% | 10% |
A majority believe that Australia’s economy is getting better but the economies of USA and Europe are getting worse.
53% of respondents think the Australian economy is getting better and 12% think it is getting worse. 62% think the USA economy is getting worse and 53% think the economies of European countries are getting worse.
For Australia, 63% of Labor voters, 66% of Greens voters and 44% of Liberal/National voters think the economy is getting better. Younger respondents were most optimistic about the Australian economy – 60% of those aged under 35 think it is getting better compared to 46% of those aged 55+.
8
Trust to Handle Economy
Q. Which party would you trust most to handle the economy if there was another Global Financial Crisis (GFC)?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| The Labor Party | 27% | 77% | 3% | 41% |
| The Liberal Party | 43% | 6% | 86% | 3% |
| No difference | 19% | 13% | 9% | 42% |
| Don’t know | 10% | 4% | 2% | 13% |
43% said they would trust the Liberal Party most to handle the economy if there was another GFC, 27% would trust the Labor Party most and 19% said there was no difference.
Those aged under 35 were more likely to think there was no difference (25%) while those aged 55+ were more likely to prefer the Liberal Party (54%)
Q. Overall, from what you have read and heard, do you think the Australian economy is heading in the right direction or the wrong direction?
| 17 May 10
(Post 2010 budget) |
9 May 11
(Post 2011 budget) |
4 Jul 11 | Vote Labor | Vote Liberal/ National | Vote Greens | |
| The right direction | 51% | 45% | 37% | 66% | 21% | 49% |
| The wrong direction | 25% | 29% | 43% | 15% | 65% | 20% |
| Don’t know | 24% | 25% | 20% | 19% | 14% | 31% |
37% of respondents think that Australia’s economy is heading in the right direction – 43% think it is heading in the wrong direction. Since this question was asked just after the 2011 budget, “right direction” has dropped 8% and “wrong direction” increased 14%.
66% of Labor voters, 21% of Liberal/National voters and 49% of Greens voters think the economy is heading in the right direction.
Essential Report
Two Party Preferred: 05 March 12
56+/- 0
Subscribe Now
Subscribe to receive the Essential Report
in your email each week
Search the Essential Report
Categories
Essential Tags
Comments
- Chhoun Taing on Australia’s Best Prime Minister
- A Smarter Way To Police Pokies | Charters Towers E-village on Pokies Legislation
- One more promise to break « essentialvision.com.au on Return to Surplus
- Green-baiting and the art of product differentiation « essentialvision.com.au on Opinion of NBN
- Green-baiting and the art of product differentiation « essentialvision.com.au on Importance of Climate Change Issue