Regulation of industries

Apr 1, 2014

Q. Do you think there needs to be more or less regulation of the following, or is the current regulation about right?

 

 

More regulation

Less regulation

Current regulation about right

Don’t know

Aged care providers

47%

13%

18%

22%

Banking

42%

10%

30%

18%

Financial planning

40%

10%

26%

24%

Mining

39%

14%

25%

22%

Building and construction

38%

15%

26%

21%

Planning and development

34%

19%

24%

23%

Private education services

32%

19%

26%

24%

Overall, respondents were more likely to think there should be more rather than less regulation of the industries listed.

In particular, they wanted more regulation of aged care providers (47%), banking (42%) and financial planning (40%).

While respondents aged 55+ were more likely to think there was too much regulation of businesses overall, they were more likely to want more regulation of financial planning (48%), building and construction (49%) and aged care providers (55%).

48% of those on income over $1,600pw wanted more regulation of financial planning.

Trust in industries

Jan 21, 2013

Q. How much trust do you have in the following industries to act in the public interest

 

Total a lot/some trust

A lot of trust

Some trust

Not much trust

No trust at all

Don’t know

Agriculture

72%

20%

52%

18%

4%

5%

Tourism

68%

12%

56%

22%

6%

5%

Manufacturing

56%

8%

48%

30%

8%

7%

Construction and development

48%

5%

43%

33%

12%

6%

Retail

47%

3%

44%

38%

12%

3%

Telecommunications

37%

3%

34%

41%

18%

3%

Banking

33%

5%

28%

36%

29%

3%

Mining

32%

3%

29%

35%

25%

8%

Media

30%

2%

28%

40%

27%

2%

Power companies

18%

1%

17%

37%

41%

4%

The industries most trusted to act in the public interest were agriculture (72% some/a lot of trust), tourism (68%) and manufacturing (56%).

The industries least trusted to act in the public interest were power companies (18%), the media (30%), mining (32%) and banking (33%).

The only industry on which there were major differences was mining where 43% of Liberal/National voters had a lot/some trust compared to only 25% of Labor voters and 17% of Greens voters.

Bank Regulation

May 7, 2012

Q. Thinking about banks in Australia, would you support or oppose the Government taking the following actions on banking?

 

Total support

Total oppose

Strongly support

Support

Oppose

Strongly oppose

Don’t know

Establishing a Government-owned bank

55%

23%

21%

34%

15%

8%

22%

Only permitting banks to change interest rates in line with Reserve Bank rates.

74%

16%

37%

37%

11%

5%

10%

Capping bank CEO’s salaries.

81%

12%

55%

26%

9%

3%

7%

Ensuring bank fees are not higher than the actual cost of the service

90%

5%

64%

26%

4%

1%

5%

Imposing a super profits tax on banks (like the mining tax)

59%

21%

34%

25%

16%

5%

20%

 

A majority of respondents supported all listed actions on banking. In particular, 90% supported regulating bank fees, 81% supported capping CEO salaries and 74% supported making banks pass on Reserve Bank interest rate changes.

There was majority support for all actions from both Labor and Liberal/National voters – although support tended to be stronger from Labor voters.

Comments »

Competition Between Banks

Nov 15, 2010

Q. Do you think there needs to be more competition between Australian banks or is there enough competition?

Total Vote Labor Vote Lib/Nat Vote Greens
There is enough competition 21% 21% 25% 13%
Needs to be more competition 68% 70% 68% 81%
Don’t know 11% 8% 6% 7%

68% believe there needs to be more competition between banks and 21% think there is currently enough competition.

81% of Greens voters believe there needs to be more competition.

Younger respondents are a little more likely to think there is enough competition (27% of aged 18-34) while 76% of respondents aged 55+ think there should be more competition.

Comments »

Trust to Handle Banking Issues

Nov 15, 2010

Q. Who would you trust most to deal with issues affecting the Australian banking industry – the Treasurer Wayne Swan and the Labor Party or the shadow Treasurer Joe Hockey and the Liberal Party?

Total Vote Labor Vote Lib/Nat Vote Greens
Wayne Swan and the Labor Party 33% 69% 5% 52%
Joe Hockey and the Liberal Party 38% 5% 80% 13%
Don’t know 29% 26% 14% 35%

38% have most trust in Joe Hockey and the Liberal Party to handle issues affecting the banking industry and 33% trust Wayne Swan and the Labor Party.

Those aged 55+ trust Joe Hockey more (47% to 35%) while those on incomes under $600pw trust Wayne Swan more (42% to 38%)

Comments »

Government Support for Industries

Nov 8, 2010

Q. Thinking about Australian industries and the ways in which the Government can give them assistance and support – which forms of assistance and support do you think the Government should give to the following industries? (multi-response)

  Lower tax rates Direct subsidies and grants Protection from overseas competition Total should give assistance Should not give any assistance Don’t know
Agriculture 34% 44% 45% 79% 7% 14%
Renewable energy e.g. solar panels, wind farms 34% 56% 19% 79% 7% 14%
Other manufacturing e.g. clothing, whitegoods 24% 16% 43% 69% 14% 17%
Car manufacturing 22% 18% 39% 66% 16% 18%
Mining 13% 9% 19% 37% 42% 21%
Banking and finance 13% 3% 12% 25% 57% 18%
Media e.g. newspapers, TV stations 5% 5% 12% 21% 58% 21%

More than three-quarters of respondents are in favour of Government assistance and support for agriculture and renewable energy industries. 45% believe that agriculture should receive protection from overseas competition and 56% support direct grants and subsidies for renewable energy.

About two-thirds are in favour of Government support for car and other manufacturing industries – especially protection from overseas competition.

Media (21%) and banking and finance (25%) are thought to be least deserving of Government support.

By voting intention Liberal/National voters were a little more likely to favour Government support for agriculture (87%) and mining (44%). Comments »

Regulation is the new black

Nov 2, 2010

First Published on The Drum 02/11/2010

Joe Hockey is swanning around the airwaves like the coolest kid at school, convinced he’s discovered a new fad that’s sure to catch on. It’s called regulation and it rocks.

Of course many old hands may wonder whether all Joe has done is stumble upon a bit of retro, like some early Midnight Oil recordings, but right now Joe is stoked, he’s got a new tattoo and everyone is checking him out. Even the Greens want to play with him.

Still, if the old post-election cliche that the ‘people always get it right’ has any sort of credibility, Joe’s biggest risk is he’ll soon be overtaken by a bunch of converts who want to take the trend way more seriously than a wide-boy with a beat-box can.

As the latest Essential Report shows, there are votes to be won in regulating the bastard banks, especially in a week when Westpac is tipped to tip the Big Four’s profits over the $20 billion mark.

Comments »

Regulation of Banks – Level of Regulation

Nov 1, 2010

Q. Thinking about banking in Australia, do you think there needs to be more or less regulation of banks or is the present level of regulation about right?

  Total Vote Labor Vote Lib/Nat Vote Greens
Needs to be more regulation 64% 68% 67% 57%
Needs to be less regulation 4% 2% 5% 4%
Present regulation about right 20% 20% 20% 35%
Don’t know 12% 10% 8% 4%

64% believe there needs to be more regulation of Australian banks and 20% think the present level of regulation is about right. Only 4% think there needs to be less regulation. Labor and Coalition voters show similar support for more regulation while Greens voters are more likely to approve of the present level regulation.  72% of those aged 45-64 want more regulation. Comments »

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