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  • Apr, 2011

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    Reason for Budget Deficit

    Q. The Federal Government is currently running a budget deficit, but intends to return to surplus in 2012-13. Which of the following do you think is most responsible for the deficit?

    Total Vote Labor Vote Lib/Nat Vote Greens
    Poor economic management by the Government 23% 5% 43% 8%
    The cost of the Government’s GFC stimulus packages 19% 19% 20% 21%
    Big companies not paying their fair share of taxes 17% 29% 6% 30%
    Spending on big projects like the National Broadband Network 14% 8% 18% 10%
    Lower tax revenues because of the Global Financial Crisis 13% 25% 4% 19%
    Don’t know 15% 14% 9% 11%

    Overall, respondents believe the main reasons for the budget deficit are poor economic management by the Government (23%), the cost of the Government’s GFC stimulus (19%) and big companies not paying their fair share of taxes (17%).

    Labor voters were most likely to blame big companies not paying their fair share of taxes (29%) and lower tax revenues because of the GFC (25%) while Liberal/National voters blame poor economic management by the Government (43%). Greens voters tended to blame big companies not paying their fair share of taxes (30%).

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  • Apr, 2011

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    Measures to Return to Surplus

    Q. In order to meet their commitment to return to surplus in 2012-13, which measures should the Government take?

    Total Vote Labor Vote Lib/Nat Vote Greens
    Increase taxes for big corporations 63% 79% 51% 77%
    Reduce tax breaks for high income earners 51% 57% 46% 67%
    Cut “middle class welfare” such as the Baby Bonus, first home buyers grant and Family Tax Benefit payments 36% 33% 41% 39%
    Reduce defence spending 32% 36% 26% 51%
    Cut spending on unemployment and disability benefits 21% 15% 31% 11%
    It does not need to return to surplus so quickly 38% 39% 36% 57%

    Overall, the most favoured means of returning the budget to surplus were increasing taxes for big corporations (63%) and reducing tax breaks for high income earners (51%). Both these measures were strongly favoured by Labor and Greens voters.

    Although support was less strong, these two measures were also the most preferred among Liberal/National voters.

    Note, although 38% thought that the budget does not need to return to surplus so quickly, some of these respondents also agreed with some of the measures listed.

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  • Apr, 2011

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    Federal Budget Surplus

    Q. Do you think it is more important for the Government to return the budget to surplus by 2012/13 as planned – which may mean cutting services and raising taxes – OR should they delay the return to surplus and maintain services and invest in infrastructure?

    Total Vote Labor Vote Lib/Nat Vote Greens
    Return to surplus by 2012/13 14% 16% 16% 9%
    Delay return to surplus 69% 72% 70% 72%
    Don’t know 17% 12% 13% 19%

    69% support delaying the return to surplus if it means cutting services and raising taxes – while 14% think it is more important to return to surplus by 2012/13.

    78% of those aged 45+ support delaying the return to surplus.

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