Reason for Budget Deficit

Apr 10, 2012

Q. The Federal Government is currently running a budget deficit, but intends to return to surplus with the budget for 2012-13 to be announced next month. Which of the following do you think has been most responsible for the deficit over the last few years?

 

Total 11/4/11

Total 10/4/12

Vote Labor

Vote Lib/Nat

Vote Greens

Poor economic management by the Government

23%

28%

7%

48%

7%

Big companies not paying their fair share of taxes

17%

16%

28%

5%

28%

Lower tax revenues because of the Global Financial Crisis

13%

16%

27%

10%

22%

Spending on big projects like the National Broadband Network

14%

15%

14%

17%

10%

The cost of the Government’s GFC stimulus packages

19%

12%

11%

13%

15%

Don’t know

15%

14%

13%

8%

18%

Overall, respondents believe the main reasons for the budget deficit are poor economic management by the Government (28%), big companies not paying their fair share of taxes (16%) and lower tax revenues because of the Global Financial Crisis (16%).

Since this question was asked 12 months ago, those blaming the Government for poor economic management has increased from 23% to 28% and those blaming the cost of the Government’s GFC stimulus packages has declined from 19% to 12%.

Labor voters were most likely to blame big companies not paying their fair share of taxes (28%) and lower tax revenues because of the GFC (27%) while Liberal/National voters blame poor economic management by the Government (48%). Greens voters tended to blame big companies not paying their fair share of taxes (28%).

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