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Government Increases Support Post Budget, Voters Don't Believe It’s Disinflationary

AUSTRALIA
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According to The Australian’s Newspoll voters don’t believe that last week’s budget will make them better off and will make inflation worse, but it has boosted support for PM Albanese and his Labor party increasing speculation of an early election. The two-party preferred split has widened to 52:48. The next election is due before May 2025.

  • 27% believe that they will be better off financially from the budget with 29% saying worse off, which is an improvement on last year’s 20% and 36%. But 39% said it would make inflation worse while 15% said better and 34% no difference, which was in line with last year. Voters don’t seem to think that inflation will fall to below target as Treasurer Chalmers expects. The numbers viewing the budget as good or bad for the economy were equal at 27%. In May 2023, 33% said it would be “good”.
  • Support for the incumbent Labor party rose 1pp to 34% while the opposition coalition fell 1pp to 37%. The Greens increased 1pp to 13% but remained in the range they’ve been in since mid-2023. The survey was taken May 16-18 while the budget was released May 14.
  • Albanese remains the preferred PM increasing his support 4pp to 52% compared with opposition leader Dutton who fell 2pp to 33%.
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According to The Australian’s Newspoll voters don’t believe that last week’s budget will make them better off and will make inflation worse, but it has boosted support for PM Albanese and his Labor party increasing speculation of an early election. The two-party preferred split has widened to 52:48. The next election is due before May 2025.

  • 27% believe that they will be better off financially from the budget with 29% saying worse off, which is an improvement on last year’s 20% and 36%. But 39% said it would make inflation worse while 15% said better and 34% no difference, which was in line with last year. Voters don’t seem to think that inflation will fall to below target as Treasurer Chalmers expects. The numbers viewing the budget as good or bad for the economy were equal at 27%. In May 2023, 33% said it would be “good”.
  • Support for the incumbent Labor party rose 1pp to 34% while the opposition coalition fell 1pp to 37%. The Greens increased 1pp to 13% but remained in the range they’ve been in since mid-2023. The survey was taken May 16-18 while the budget was released May 14.
  • Albanese remains the preferred PM increasing his support 4pp to 52% compared with opposition leader Dutton who fell 2pp to 33%.