Budget Deficit, Budget Surplus, EMC, ER, Essential Media, Essential Report, Federal Budget, Federal Government, Greens, Labor, Liberal, Nationals, Polling, polls
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%).
Budget Surplus, EMC, ER, Essential Media, Essential Report, Federal Budget, Greens, Labor, Liberal, Nationals, Polling, polls, 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.
Budget Surplus, cutting services, EMC, ER, Essential Media, Essential Report, Federal Budget Surplus, Greens, invest in infrastructure, Labor, Liberal, maintain services, Nationals, Polling, polls, raising taxes, return to 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.