Voters are not happy with the Government’s plan to raise a deficit reduction levy and increase the pension retirement age, according to a Galaxy poll released yesterday which showed the Coalition would have lost an election if it had been held on the weekend.
This is a big reduction in Government stocks, according to Galaxy managing director David Briggs, who told www.news.com.au that:
What we are seeing is that it really doesn’t matter how you slice and dice it, the Government really hasn’t sold the idea of the austerity measures.
The poll showed 69% of voters are opposed to the increase in the pension age to 70 change while the deficit tax levy is also loathed – 72% say it represents a broken promise.
More worryingly for the Government, the poll showed the Coalition’s two-party preferred vote slipping to 48% from 53.5% at the last election while Labor’s vote has risen to 52%.
That is a big shift in fortunes in a short space of time and there appears to have been an intensification of rumblings in Cabinet and the party room. The Australian reported this morning that the deficit levy proposal is being redrafted to make it more palatable to the electorate.
The levy, which was originally expected to target those earning more than $80,000, could now only see Australians on more than $180,000 paying 2% of their taxable income.
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