The past year – the economy and industries
Q. Thinking about the last 12 months, has it been a good or bad year for each of the following?
|
Total good (Dec 10 |
Total bad (Dec 10) |
Total good (Dec 11) |
Total bad (Dec 11) |
Total good (Dec 12) |
Total bad (Dec 12) |
Very good |
Good |
Neither good nor |
Bad |
Very bad |
Don’t know |
|
| The banks |
69% |
13% |
71% |
8% |
68% |
11% |
30% |
38% |
17% |
8% |
3% |
5% |
| The mining industry |
57% |
14% |
68% |
11% |
53% |
19% |
17% |
36% |
22% |
15% |
4% |
6% |
| Large companies and corporations |
44% |
15% |
40% |
22% |
32% |
31% |
5% |
27% |
32% |
25% |
6% |
6% |
| The Australian economy |
41% |
20% |
33% |
31% |
29% |
37% |
4% |
25% |
32% |
28% |
9% |
3% |
| You and your family |
na |
na |
na |
na |
29% |
36% |
6% |
23% |
34% |
25% |
11% |
2% |
| The media |
30% |
14% |
25% |
27% |
21% |
40% |
5% |
16% |
33% |
29% |
11% |
6% |
| Farming and agriculture |
14% |
50% |
23% |
40% |
20% |
40% |
2% |
18% |
33% |
28% |
12% |
7% |
| Trade unions |
na |
na |
na |
na |
18% |
30% |
4% |
14% |
37% |
22% |
8% |
15% |
| The environment |
14% |
37% |
20% |
33% |
18% |
37% |
3% |
15% |
40% |
26% |
11% |
6% |
| The average Australian |
na |
na |
na |
na |
17% |
45% |
2% |
15% |
36% |
34% |
11% |
3% |
| Small business |
14% |
45% |
10% |
61% |
10% |
62% |
1% |
9% |
24% |
39% |
23% |
5% |
| Australian politics in general |
na |
na |
na |
na |
9% |
61% |
2% |
7% |
26% |
29% |
32% |
4% |
A majority of respondents think it has been a good year for the banks (68%) and the mining industry (53%). They are split over whether it has been a good year for large companies and corporations (32% good/31% bad). However, they are much more likely to think the year has been bad for small business (62%), Australian politics in general (61%), the average Australian (45%), farming and agriculture (40%) and the media (40%).
Compared to last year’s results, respondents considered 2012 a worse year than 2011 for the mining industry (“good” down 15% to 53%), large companies and corporations (“good” down 8% to 32%) and the media (“bad” up 13% to 40%).
Trust in People and Organisations
Q. How much trust do you have that the following people or organisations can be relied on to act in the community’s interest?
|
|
Total a lot/some trust |
Total little/no trust |
A lot of trust |
Some trust |
A little trust |
No trust |
Don’t know |
Net trust |
| Kevin Rudd |
37% |
56% |
14% |
23% |
26% |
30% |
7% |
-19 |
| Malcolm Turnbull |
33% |
54% |
8% |
25% |
29% |
25% |
14% |
-21 |
| Tony Abbott |
29% |
63% |
10% |
19% |
20% |
43% |
7% |
-34 |
| Julia Gillard |
26% |
67% |
8% |
18% |
22% |
45% |
6% |
-41 |
| Mining magnates like Clive Palmer and Gina Rinehart |
14% |
73% |
3% |
11% |
23% |
50% |
13% |
-59 |
| Australian companies |
46% |
47% |
8% |
38% |
35% |
12% |
7% |
-1 |
| Banks |
17% |
66% |
2% |
15% |
32% |
44% |
7% |
-49 |
| Foreign companies |
8% |
81% |
1% |
7% |
24% |
57% |
10% |
-73 |
There was a substantial lack of trust in all people and organisations tested with the exception of Australian companies – which split 46% a lot/some trust and 47% little/no trust.
For both the Labor Party and the Liberal Party, the current leaders were less trusted than the previous leaders. However, all political leaders were more trusted than mining magnates like Clive Palmer and Gina Rinehart.
Among Labor voters, 58% had a lot/some trust in Julia Gillard and 58% had a lot/some trust in Kevin Rudd. Among Liberal/National voters, 58% had a lot/some trust in Tony Abbott and 44% had a lot/some trust in Malcolm Turnbull.
Bank Regulation
Q. Thinking about banks in Australia, would you support or oppose the Government taking the following actions on banking?
|
Total support |
Total oppose |
Strongly support |
Support |
Oppose |
Strongly oppose |
Don’t know |
|
| Establishing a Government-owned bank |
55% |
23% |
21% |
34% |
15% |
8% |
22% |
| Only permitting banks to change interest rates in line with Reserve Bank rates. |
74% |
16% |
37% |
37% |
11% |
5% |
10% |
| Capping bank CEO’s salaries. |
81% |
12% |
55% |
26% |
9% |
3% |
7% |
| Ensuring bank fees are not higher than the actual cost of the service |
90% |
5% |
64% |
26% |
4% |
1% |
5% |
| Imposing a super profits tax on banks (like the mining tax) |
59% |
21% |
34% |
25% |
16% |
5% |
20% |
A majority of respondents supported all listed actions on banking. In particular, 90% supported regulating bank fees, 81% supported capping CEO salaries and 74% supported making banks pass on Reserve Bank interest rate changes.
There was majority support for all actions from both Labor and Liberal/National voters – although support tended to be stronger from Labor voters.
The Past Year – The Economy and Industries
Q. Thinking about the last 12 months, has it been a good or bad year for each of the following?
| Total good
(Dec 10 |
Total bad
(Dec 10) |
Total good | Total bad | Very good | Good | Neither good nor bad | Bad | Very bad | Don’t know | |
| The banks | 69% | 13% | 71% | 8% | 35% | 36% | 16% | 6% | 2% | 4% |
| The mining industry | 57% | 14% | 68% | 11% | 34% | 34% | 15% | 8% | 3% | 6% |
| Large companies and corporations | 44% | 15% | 40% | 22% | 8% | 32% | 32% | 18% | 4% | 6% |
| The Australian economy | 41% | 20% | 33% | 31% | 4% | 29% | 32% | 24% | 7% | 3% |
| The media | 30% | 14% | 25% | 27% | 6% | 19% | 37% | 19% | 8% | 10% |
| Farming and agriculture | 14% | 50% | 23% | 40% | 2% | 21% | 30% | 28% | 12% | 7% |
| The environment | 14% | 37% | 20% | 33% | 3% | 17% | 41% | 24% | 9% | 6% |
| Small business | 14% | 45% | 10% | 61% | 1% | 9% | 24% | 42% | 19% | 6% |
A majority of respondents think it has been a good year for the banks (71%) and the mining industry (68%). They are also more likely to think it has been a good year for large companies and corporations (40% good/22% bad) and the economy (33%/31%). However, they are more likely to think the year has been bad for small business (61%), farming and agriculture (40%) and the environment (33%).
In terms of the economy, Labor voters (50% good/18% bad) and Greens voters (47%/15%) were more likely to think it has been a good year – while 45% of Liberal/National voters considered it poor and 23% good.
Compared to last years’ results, respondents considered 2011 a better year than 2010 for the mining industry (up 11% to 68% good), farming and agriculture (up 9% to 23%) and the environment (up 6% to 20%). Perceptions of the economy dropped from a net +21% to +2%.
Performance of Groups/Organisations
Q. And from what you have seen and heard, how would you rate each of the following in terms of how they have responded to the floods?
| Total good | Total poor | Very good | Good | Average | Poor | Very poor | Don’t know | |
| The Federal Labor Government | 48% | 15% | 15% | 33% | 26% | 7% | 8% | 11% |
| The Federal Coalition Opposition | 29% | 19% | 6% | 23% | 37% | 12% | 7% | 15% |
| The Queensland State Government | 78% | 3% | 48% | 30% | 10% | 1% | 2% | 9% |
| The Queensland State Government (Qld only) | 79% | 3% | 51% | 28% | 11% | 1% | 2% | 7% |
| The Victorian State Government | 48% | 4% | 14% | 34% | 22% | 3% | 1% | 26% |
| The Victorian State Government (Vic only) | 53% | 8% | 13% | 40% | 23% | 6% | 2% | 16% |
| The NSW State Government | 33% | 12% | 8% | 25% | 27% | 8% | 4% | 27% |
| The NSW State Government (NSW only) | 26% | 22% | 5% | 21% | 33% | 13% | 9% | 20% |
| The Australian military | 78% | 2% | 49% | 29% | 8% | 1% | 1% | 10% |
| State emergency services | 88% | 2% | 71% | 17% | 4% | 1% | 1% | 7% |
| The media | 61% | 9% | 26% | 35% | 23% | 5% | 4% | 7% |
| The banks | 22% | 26% | 6% | 16% | 30% | 17% | 9% | 23% |
| The insurance industry | 10% | 53% | 2% | 8% | 22% | 25% | 28% | 14% |
| Australian businesses overall | 48% | 8% | 13% | 35% | 30% | 6% | 2% | 14% |
| The Australian people overall | 85% | 2% | 56% | 29% | 7% | 1% | 1% | 6% |
Groups with highest ratings for their response to the floods were state emergency services (88% good), the Australian people overall (85%), the Queensland State Government (78%) and the Australian military (78%).
The Federal Government’s response was rated 48% good/15% poor/26% average while the Federal Opposition was rated 29% good/19% poor/37% average.
The only groups with overall negative ratings were the insurance industry (53% poor/10% good) and the banks (26% poor/22% good).
The Past Year – The Economy and Industries
Q. Thinking about the last 12 months, has it been a good or bad year for each of the following?
| Total good | Total bad | Very good | Good | Neither good nor bad | Bad | Very bad | Don’t know | |
| The banks | 69% | 13% | 42% | 27% | 14% | 9% | 4% | 4% |
| The mining industry | 57% | 14% | 27% | 30% | 24% | 11% | 3% | 6% |
| Large companies and corporations | 44% | 15% | 10% | 34% | 35% | 13% | 2% | 7% |
| The Australian economy | 41% | 20% | 5% | 36% | 36% | 17% | 3% | 4% |
| The media | 30% | 14% | 8% | 22% | 45% | 10% | 4% | 10% |
| The environment | 14% | 37% | 2% | 12% | 43% | 28% | 9% | 5% |
| Small business | 14% | 45% | 2% | 12% | 35% | 34% | 11% | 6% |
| Farming and agriculture | 14% | 50% | 2% | 12% | 31% | 35% | 15% | 5% |
A majority of respondents think it has been a good year for the banks (69%) and the mining industry (57%). They are also more likely to think it has been a good year for large companies and corporations (44% good/15% bad), the economy (41%/20%), and the media (30%/14%).
However, they are more likely to think the year has been bad for farming and agriculture (50%), small business (45%) and the environment (37%).
In terms of the economy, all voter groups were more likely to think it has been a good year – Labor 55% good/11% bad, Liberal/National 33%/29% and Greens 53%/12%. Comments »
Competition Between Banks
Q. Do you think there needs to be more competition between Australian banks or is there enough competition?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| There is enough competition | 21% | 21% | 25% | 13% |
| Needs to be more competition | 68% | 70% | 68% | 81% |
| Don’t know | 11% | 8% | 6% | 7% |
68% believe there needs to be more competition between banks and 21% think there is currently enough competition.
81% of Greens voters believe there needs to be more competition.
Younger respondents are a little more likely to think there is enough competition (27% of aged 18-34) while 76% of respondents aged 55+ think there should be more competition.
Regulation is the new black
First Published on The Drum 02/11/2010
Joe Hockey is swanning around the airwaves like the coolest kid at school, convinced he’s discovered a new fad that’s sure to catch on. It’s called regulation and it rocks.
Of course many old hands may wonder whether all Joe has done is stumble upon a bit of retro, like some early Midnight Oil recordings, but right now Joe is stoked, he’s got a new tattoo and everyone is checking him out. Even the Greens want to play with him.
Still, if the old post-election cliche that the ‘people always get it right’ has any sort of credibility, Joe’s biggest risk is he’ll soon be overtaken by a bunch of converts who want to take the trend way more seriously than a wide-boy with a beat-box can.
As the latest Essential Report shows, there are votes to be won in regulating the bastard banks, especially in a week when Westpac is tipped to tip the Big Four’s profits over the $20 billion mark.
Regulation of Banks – Level of Regulation
Q. Thinking about banking in Australia, do you think there needs to be more or less regulation of banks or is the present level of regulation about right?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Needs to be more regulation | 64% | 68% | 67% | 57% |
| Needs to be less regulation | 4% | 2% | 5% | 4% |
| Present regulation about right | 20% | 20% | 20% | 35% |
| Don’t know | 12% | 10% | 8% | 4% |
64% believe there needs to be more regulation of Australian banks and 20% think the present level of regulation is about right. Only 4% think there needs to be less regulation. Labor and Coalition voters show similar support for more regulation while Greens voters are more likely to approve of the present level regulation. 72% of those aged 45-64 want more regulation. Comments »
Regulation of Banks – Specific Rules
Q. Would you support or oppose the following regulations for Australia’s banks?
| Total support | Total oppose | Strongly support | Support | Oppose | Strongly oppose | Don’t know | |
| Stopping banks from sending jobs off-shore | 83% | 7% | 46% | 37% | 5% | 2% | 9% |
| Only permitting banks to change interest rates in line with Reserve Bank rates | 82% | 11% | 53% | 29% | 8% | 3% | 7% |
| Capping bank CEO’s salaries | 84% | 9% | 60% | 24% | 7% | 2% | 6% |
| Ensuring bank fees are not higher than the actual cost of the service | 91% | 4% | 67% | 24% | 3% | 1% | 4% |
| A requirement to let customers know if their personal data is being sent to other countries for processing | 93% | 2% | 71% | 22% | 2% | * | 6% |
| Tougher rules about giving loans and credit | 74% | 15% | 32% | 42% | 13% | 2% | 12% |
More than 90% support regulations requiring banks to let customers know if their personal data is being sent to other countries for processing and ensuring bank fees are not higher than the actual cost of the service. Over 80% support stopping banks from sending jobs off-shore, only permitting banks to change interest rates in line with Reserve Bank rates and capping bank CEO’s salaries.
There were no substantial differences by voting intention – all regulations were strongly supported by all voter groups.
| Total support | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Stopping banks from sending jobs off-shore | 83% | 85% | 85% | 83% |
| Only permitting banks to change interest rates in line with Reserve Bank rates | 82% | 87% | 82% | 73% |
| Capping bank CEO’s salaries | 84% | 88% | 83% | 86% |
| Ensuring bank fees are not higher than the actual cost of the service | 91% | 93% | 93% | 90% |
| A requirement to let customers know if their personal data is being sent to other countries for processing | 93% | 94% | 93% | 94% |
| Tougher rules about giving loans and credit | 74% | 71% | 80% | 77% |
Support for Government-owned Bank
Support for Government-owned Bank
Q. Would you support or oppose the establishment of a Government-owned bank to compete with the private banks?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Total support | 62% | 68% | 60% | 72% |
| Total oppose | 17% | 14% | 21% | 16% |
| Strongly support | 28% | 32% | 27% | 33% |
| Support | 34% | 36% | 33% | 39% |
| Oppose | 11% | 9% | 13% | 13% |
| Strongly oppose | 6% | 5% | 8% | 3% |
| Don’t know | 22% | 19% | 19% | 13% |
62% support and 17% oppose the establishment of a Government-owned bank to compete with the private banks.
Strongest support is shown by men (68%), Greens voters (72%) and full-time workers (68%). Comments »
Essential Report
Two Party Preferred: 20 May 2013
In this week's report:
3Q: Latest episodes
-
Essential Report with EMC’s Peter Lewis and Jackie Woods
Comments19 Sep 2012Lewis and Woods talk through this week’s polling numbers: voting intention, leader attributes, drug laws in Australia, and more…
-
Are we ready for the grey revolution?
Comments12 Sep 2012Ken Morrison says our cities need to be transformed for our ageing population – and it’s not solely about nursing homes.
-
Ships, trains and submarines — can we build them here?
Comments11 Sep 2012Tim Ayres wishes Clive Palmer and other mining giants would give local manufacturers a go instead of heading overseas.
-
Do we undervalue our public sector innovations?
Comments11 Sep 2012Nadine Flood questions whether governments take our science and other publicly funded breakthroughs for granted.
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