Reasons Economy is Poor

May 28, 2012

Q. What is the main reason you don’t think the state of the economy is good? *

 

Total

Vote Labor

Vote Lib/Nat

Vote Greens

Increasing cost of living

34%

34%

32%

40%

Poor economic management by Government

27%

8%

36%

7%

Businesses are struggling

13%

14%

12%

19%

Increasing gap between rich and poor

9%

22%

6%

15%

Global financial problems

7%

11%

5%

11%

Incomes aren’t increasing fast enough to keep up

7%

11%

7%

Other reason

2%

1%

8%

Don’t know

1%

1%

* Based on those who disagree that economy is good.

Those who disagreed that the economy was good said the main reasons were the increasing cost of living (34%) and poor economic management by Government (27%).

36% of respondents aged 55+ blamed poor economic management by Government while the increasing cost of living was the major factor for 43% of respondents aged 25-44.

There were no significant differences across income groups in relation to the increasing cost of living.

Reasons Government is Unpopular

May 28, 2012

Q. Although Australia’s economy is doing very well, according to opinion polls the Government is very unpopular. What do you think is the main reason for this? *

 

Total

Vote Labor

Vote Lib/Nat

Vote Greens

Voters don’t trust the Prime Minister

28%

21%

35%

44%

The carbon tax will increase the cost of living

17%

17%

19%

8%

The economy is doing well for other reasons, like China and the mining boom, not because of the government

15%

13%

19%

5%

Voters are still angry about the treatment of Kevin Rudd.

12%

18%

6%

14%

Voters aren’t benefiting from the strong economy.

12%

10%

14%

8%

The government looks sleazy because of Craig Thomson and Peter Slipper.

4%

5%

3%

8%

Some other reason

8%

12%

3%

11%

Don’t know

3%

5%

1%

3

* Based on those who agree the economy is good.

Respondents who thought the economy was doing well, thought the main reasons for the Government’s unpopularity were that voters don’t trust the Prime Minister (28%), that the carbon tax will increase the cost of living (17%) and that the economy is doing well for other reasons, not because of the Government (15%).

Both Liberal/National and Greens voters said trust in the Prime Minister was the key issue, while Labor voters were somewhat more likely to nominate anger over the treatment of Kevin Rudd.

Household Financial Situation

May 28, 2012

Q. How would you describe the current financial situation of your household?

 

Total

Vote Labor

Vote Lib/Nat

Vote Greens

Total satisfactory

43%

53%

39%

49%

Total unsatisfactory

28%

27%

30%

17%

Very satisfactory

7%

12%

3%

15%

Satisfactory

36%

41%

36%

34%

Neither satisfactory nor unsatisfactory

28%

19%

31%

33%

Unsatisfactory

18%

18%

19%

10%

Very unsatisfactory

10%

9%

11%

7%

Don’t know

1%

1%

*

1%

43% consider their current household financial situation to be satisfactory and 28% say it is unsatisfactory. 28% said it was neither.

Those most likely to be satisfied were full-time workers (49%) and those on incomes over $1,600pw (61%).

Those most likely to be dissatisfied were aged 45-54 (38%), not working (34%) and on incomes under $1,000pw (44%).

Comments »

Major Spending in last 12 months

May 28, 2012

Q. In the last 12 months have you –

 

Total

Vote Labor

Vote Lib/

Nat

Vote Greens

Financial situation satis-factory

Neither satis-factory nor unsatis-factory

Financial situation unsatis-factory

Econ. good

Neither good nor poor

Econ. poor

Bought a house or other property

10%

10%

12%

11%

15%

8%

6%

11%

10%

9%

Bought a new car

12%

12%

13%

14%

16%

11%

7%

15%

13%

8%

Bought a used car

17%

17%

17%

22%

18%

15%

16%

20%

12%

17%

Renovated your current home

17%

20%

16%

18%

23%

15%

9%

22%

17%

11%

Purchased a major household item (stove, TV, Fridge, furniture etc.)

39%

42%

40%

45%

47%

35%

30%

48%

33%

35%

Taken an overseas holiday

30%

25%

31%

38%

40%

26%

19%

32%

29%

27%

Taken an Australian holiday

45%

47%

48%

48%

61%

43%

25%

51%

44%

41%

Paid private school fees

12%

11%

15%

8%

13%

14%

7%

16%

7%

11%

Bought shares

13%

11%

16%

16%

16%

17%

5%

13%

11%

15%

None of the above

20%

22%

18%

14%

9%

21%

36%

15%

24%

22%

The most common major spending items over the last 12 months were holidays in Australia (45%), purchase of major household item (39%) and overseas holidays (30%).

Spending rate of those who consider their financial situation unsatisfactory was about half that of those who were satisfied for most items. Whereas taking an Australian holidays was the most common item of major spending for those satisfied (61%) and the neither group (43%), those who were dissatisfied were more likely to have purchased a major household item (30%).

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