CHART: Social media sentiment is running against the 2016 Budget

Stduents at the UTS campus in Sydney. Brendon Thorne/Getty Images

Sentiment on social media is running against key measures in the federal budget, according to deep analysis by monitoring group Meltwater.

The key negative sentiments in social media comments are about tax cuts and funding for education and the prospect of higher fees at university.

About 500,000 taxpayers got removed from the 37% second top marginal tax rate by lifting the 32.5% tax level threshold to $87,000 from $80,000. However, those earning more than $87,000 also get the benefit of the bracket creep fix.

Many commented on social media that the cuts were more for the rich than for helping middle income earners.

The sentiment was tracked on social media from the day after the budget to today.

For the latest analysis, Meltwater looked at over 8,500 news reports and 105,00 social media mentions leading up to the budget, the night of the budget and the morning after.

Meltwater uses natural language processing to rate words as negative, neutral or positive. Based on which words appear, how often and proximity to one another, the platform automatically generates a sentiment tag.

Issues are tracked using full text from all Australia’s major national, metropolitan and regional publications as well as online news sources. Meltwater also listens to and analyses conversations across social media platforms in Australia, including Twitter, Facebook, YouTube and Instagram.

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