Voters are happy with the budget as the Turnbull government edges closer to Labor in the polls

Treasurer Scott Morrison is congratulated by Prime Minister Malcolm Turnbull after delivering the budget in the House of Representatives on May 9, 2017 in Canberra, Australia. Stefan Postles/ Getty Images.

A majority of voters have backed the Turnbull government after it delivered its federal budget, supporting its measures including its tax on banks and the increase in the Medicare levy.

According to a recent Fairfax Ipsos poll, while Labor still holds a 53% to 47% lead in the two-party preferred vote, that has slipped back from a 55% to 45% lead pre-budget.

The bank tax was backed by 68%, and the rise in the Medicare levy was backed by 61% of voters.

The $6.2 billion tax on banks was targeted at Australia’s five largest financial institutions — Commonwealth, ANZ, NAB, Westpac, and Macquarie, and the 0.5% rise in the Medicare levy from July 2019 will raise $7.8 billion for infrastructure, including for a new Western Sydney airport and an inland rail line from Melbourne to Brisbane.

The SMH has more.

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