Jim Chalmers has shrugged off a growing Budget backlash, as opinion polls showed voters across all generations believe they’ll be worse off — but the Opposition’s popularity has dipped more.
According to Newspoll, Labor’s primary vote held steady at 31 per cent while the Coalition fell a point to 20 per cent and One Nation’s surge continued — up from 20 to 27 per cent.
The Newspoll, published in The Australian, fond 60 per cent think Labor’s overhaul of housing taxes will either “make no difference” or be a step in the “wrong direction.”
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A minus 5 net approval rating for the Budget was the worst result since 1993, and worse than Joe Hockey and Tony Abbott’s “lifters not leaners” Budget in 2014.
The Treasurer shrugged off the public reaction on Sunday, insisting the backlash was expected and the result of a scare campaign.
“I’d be more surprised if there was a bounce,” Dr Chalmers told ABC Insiders.
Treasurer Jim Chalmers. Credit: MICK TSIKAS/AAPIMAGE
“Frankly, we didn’t do this to get a bounce in the polls, we did it to get a boost in first home ownership, particularly among younger Australians who’ve been locked out.
“This budget is full of hard decisions, not handouts.
“So we didn’t do it to help our primary vote, we did it to help more people realise the aspiration of home ownership, and that matters more to us than any opinion poll published a few days after the Budget.”
According to Newspoll, only 26 per cent of those surveyed agreed the Budget will “make things fairer,” while 47 per cent believe it is “driving a wedge” between generations.
More voters aged 50 to 64 believed they will be worse off as a result, at 59 per cent.
But the younger generation wasn’t won over, with 42 per cent of respondents aged 18 to 34 also believing they will be worse off.
Housing Minister Clare O’Neill insisted Australia’s housing market “is cooked” and the overhaul is necessary to level the playing field.
“Someone had to step up and do something to change the situation, and that’s exactly what our government is doing,” she said.
Prime Minister Anthony Albanese denied removing negative gearing concessions would cripple younger investors.
“If they want to have a new investment, they’ll invest in a new property,” he said.
Dr Chalmers hit back at suggestions the Government will be punished for breaking its election pledge not to tamper with negative gearing or capital gains tax.
“What we took to the election reflected our position at the time, which is that supply is the main game,
“I’d rather focus on the meaningful difference that we are making to people’s lives and the budget that we handed down on Tuesday night.
“Yes, that involves a level of political controversy, obviously we expected that, but more important than taking the easy political path is to take the right decisions for the right reasons, and that’s what we’ve done.”
The Prime Minister and Treasurer are both due in Perth this week, as their Budget promotional tour continues.
