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.

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Government Regulation

Apr 30, 2012

Q. Do you approve or disapprove of Governments making laws to regulate the following?

 

Total approve

Total disapprove

Strongly approve

Approve

Disapprove

Strongly disapprove

Don’t know

Wearing seatbelts in cars

97%

2%

74%

23%

2%

*

1%

Wearing bike helmets

94%

6%

65%

29%

5%

1%

1%

Personal use of recreational drugs

59%

34%

32%

27%

19%

15%

7%

Smoking in public places

67%

30%

40%

27%

16%

14%

3%

Buying and consuming alcohol

69%

26%

26%

43%

19%

7%

5%

Shopping hours

56%

38%

16%

40%

28%

10%

6%

Cigarette packaging

64%

29%

35%

29%

16%

13%

6%

Junk food advertising

66%

28%

29%

37%

19%

9%

6%

Films (i.e. censorship)

62%

31%

20%

42%

20%

11%

7%

The internet

49%

43%

19%

30%

23%

20%

8%

 

For each of the areas listed above (except for ‘the internet’) more than half of respondents approve of Governments making laws to regulate the area.

 

The highest levels of approval were for ‘wearing seatbelts in cars’ (97% approve) and ‘wearing bike helmets’ (94% approve).

 

The highest levels of disapproval were for ‘the internet’ (43% disapprove) and ‘shopping hours’ (38% disapprove).

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Most Important Factor in Government Regulation

Apr 30, 2012

Q. What should be the most important factor Governments consider in relation to regulating each of these issues – protecting rights and freedom, protecting people’s health and safety or managing the cost to taxpayers (e.g. health costs of drug/alcohol/tobacco use)?

 

Protecting rights and freedom 

Protecting people’s health and safety

Managing the cost to taxpayers

Don’t know

Wearing seatbelts in cars

5%

91%

3%

2%

Wearing bike helmets

6%

89%

3%

2%

Personal use of recreational drugs

18%

61%

12%

9%

Smoking in public places

19%

67%

9%

5%

Buying and consuming alcohol

25%

58%

11%

6%

Shopping hours

55%

11%

16%

19%

Cigarette packaging

16%

61%

14%

8%

Junk food advertising

16%

66%

11%

8%

Films (i.e. censorship)

59%

19%

7%

15%

The internet

62%

18%

6%

15%

 

For most of the areas listed above, the majority of respondents thought the most important factor for Governments to consider was ‘protecting people’s health and safety’.

 

The three areas where respondents thought that is was more important to consider ‘protecting rights and freedoms’ were ‘the internet’ (62%), ‘films’ (59%) and ‘shopping hours’ (55%).

 

‘Managing the cost to tax payers’ was not considered to be an important factor by most respondents.

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Regulation of Gambling

Apr 27, 2011

Q. For each of the following forms of gambling, which do you think need more or less regulation?

Needs more regulation Needs less regulation Current regulation is about right Don’t know
Online gambling in general 68% 4% 16% 12%
Poker machines 62% 5% 24% 9%
Casinos 53% 4% 32% 11%
Betting on sport e.g. football, cricket 46% 4% 36% 14%
Betting on horse racing 37% 4% 47% 13%
Lotto 20% 4% 65% 11%

About two thirds of respondents think there should be more regulation of online gambling (68%) and poker machines (62%). 53% think that casinos need more regulation.

Differences by voting intention were –

  • Liberal/National voters were less likely to favour more regulation of casinos (47%) and poker machines (55%)
  • More regulation of poker machines was more strongly favoured by Greens (74%) and Labor (65%) voters.

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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.

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