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Polls Give Government Confidence In Its Direction

AUSTRALIA

While the peak of the new government’s “honeymoon period” has probably passed, it retains solid support and PM Albanese remains the preferred leader. These results should maintain the government’s confidence in its plans.

  • Treasurer Chalmers stated yesterday that given the trajectory for future deficits, there’s little room for further cost-of-living relief. The upcoming budget (October 25) should indicate the spending/revenue mix the Labor government intends and if the RBA will need to take more note of fiscal policy.
  • According to the latest Herald’s Resolve Political Monitor, primary support for the governing Labor party has fallen 3pp to 39% but remains ahead of the Coalition on 32% (+4pp). This is still higher than its primary vote in May’s election of 32.6%. Albanese remains firmly the preferred PM with 53% support (-2pp). 33% felt that the government was best to run the economy (30% Coalition) but the Coalition was ahead on managing the country’s finances.
  • The poll also showed that support for a Republic fell after the passing of the Queen. It currently stands at 46% down from 54% in January.
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