economy, Essential Report, Polling
Q. Over the next 12 months do you think economic conditions in Australia will get better, get worse or stay much the same?
| 1 Dec
08 |
15 Jun 09 | 5 Oct
09 |
28 Jun
10 |
18 Oct
10 |
4 April
11 |
4 Jul
11 |
3 Oct
11 |
Vote Labor | Vote Lib/Nat | Vote Greens | |
| Total better | 21% | 43% | 66% | 33% | 40% | 27% | 22% | 16% | 26% | 12% | 15% |
| Total worse | 61% | 37% | 15% | 31% | 30% | 37% | 49% | 58% | 39% | 72% | 58% |
| Get a lot better | 2% | 5% | 8% | 5% | 6% | 4% | 3% | 2% | 5% | 1% | 3% |
| Get a little better | 19% | 38% | 58% | 28% | 34% | 23% | 19% | 14% | 21% | 11% | 12% |
| Get a little worse | 45% | 28% | 11% | 23% | 20% | 27% | 31% | 41% | 34% | 47% | 44% |
| Get a lot worse | 16% | 9% | 4% | 8% | 10% | 10% | 18% | 17% | 5% | 25% | 14% |
| Stay much the same | 13% | 17% | 15% | 30% | 24% | 27% | 25% | 22% | 33% | 15% | 27% |
| No opinion | 5% | 3% | 4% | 7% | 6% | 8% | 4% | 4% | 3% | 1% | 1% |
Confidence in the economic outlook has weakened with the percentage of respondents believing conditions to be getting worse increasing 9 points to 58% (total worse), from 49% in July this year. Those believing that economic conditions will get better over the next 12 months has fallen 6 points from 22% to 16% (total better).
Compared to 12 months ago, respondents are far less likely to think things will get better, having fallen from 40% (total better) in October 2010 to 16% (total better). Conversely, pessimism has risen since this time last year, with the proportion of respondents believing conditions to get worse increasing from 30% (total worse) in October 2010 to 58% (total worse).
Labor voters are far less likely to think that things will get worse (39% total worse). Coalition voters are the most pessimistic, with 72% (total worse) believing that thing will get worse over the next 12 months.
economy, Essential Report, GFC, global financial crisis, Greens, Joe Hockey, Julia Gillard, kevin rudd, Labor, leadership, Liberal, malcolm turnbull, Nationals, Polling, tony abbott
Q. If there was another global financial crisis or a recession, which of the following would be best to lead Australia?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| Kevin Rudd | 24% | 34% | 13% | 37% |
| Tony Abbott | 20% | 4% | 44% | – |
| Julia Gillard | 13% | 42% | 1% | 18% |
| Malcolm Turnbull | 13% | 7% | 17% | 17% |
| Joe Hockey | 7% | 1% | 11% | 3% |
| Don’t know | 22% | 12% | 15% | 25% |
24% think Kevin Rudd would be best to lead Australia if there was another GFC and 20% favour Tony Abbott.
Among Labor voters Julia Gillard is preferred over Kevin Rudd 42% to 34%. Support for the current party leaders among their own voters is very similar – 42% of Labor voters prefer Julia Gillard and 44% of Liberal/National voters prefer Tony Abbott.
economy, Essential Report, federal politics, Mining tax, Polling, Taxing Mining Companies
Q. Do you agree or disagree with the following statements about the proposed mining tax?
| Total agree | Total disagree | Strongly agree | Agree | Disagree | Strongly disagree | Don’t know | |
| A mining tax is needed so that more of the profits of mining companies are kept in Australia instead of being sent overseas. | 57% | 24% | 26% | 31% | 15% | 9% | 19% |
| A mining tax will hurt business and undermine the country’s economic recovery. | 36% | 44% | 13% | 23% | 29% | 15% | 20% |
| It’s about time all corporations, including the miners, started paying their fair share of taxes. | 62% | 19% | 26% | 36% | 13% | 6% | 18% |
| A miners’ tax is just another example of the Gillard ALP’s anti-business attitude. | 34% | 45% | 16% | 18% | 24% | 21% | 21% |
| The mining companies make huge profits from resources which belong to all Australians, so all Australians should benefit from these large profits. | 67% | 15% | 34% | 33% | 12% | 3% | 18% |
There was strong agreement that all corporations, including the miners, started paying their fair share of taxes (62%) and that all Australians should benefit from the large profits of mining companies (67%). Respondents were more likely to disagree that a mining tax will hurt business and undermine the country’s economic recovery (44% disagree/36% agree) and that the tax is just another example of the Gillard ALP’s anti-business attitude (45% disagree/34% agree).
agriculture, construction, economy, Finance, future, hospitality, management of the economy, manufacturing, media, mining, Retail, telecommunications, tourism
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.
Australian economy, economy, Essential Report, GFC, global financial crisis, Government spending
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%).
Approval of opposition leader, Carbon Tax, economy, Essential Report, federal politics, Labor, Liberal, Polling, tax, tony abbott
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 $1,000pw.
Carbon Tax, Carbon Tax Compensation, economy, Essential Report, federal politics, GFC, global financial crisis, tax
Q. If the Australian economy weakens and unemployment goes up would you approve or disapprove of the Government taking the following actions?
| Total approve | Total disapprove | Strongly approve | Approve | Disapprove | Strongly disapprove | Don’t know | |
| Reduce interest rates | 79% | 11% | 32% | 47% | 8% | 3% | 11%$ |
| 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.
Australian economy, economy, Essential Report, GFC, global financial crisis, Polling, polls, spending and income
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.