Many voters blame the Albanese government for runaway inflation despite attempts by the treasurer and a Labour predecessor to criticise the Reserve Bank, a new poll shows.
According to the latest Resolve Political Monitor poll for Nine Newspapers, 51 percent of voters believe the government has a primary duty to control rising prices.
Only 27 per cent of voters blame the central bank, despite comments from Treasurer Jim Chalmers and former Labor Treasurer and current party chairman Wayne Swan criticising the RBA’s reluctance to cut rates.
The Resolve poll also showed the Coalition had maintained a strong lead over which party was the better economic manager, with 37 per cent of voters backing the team led by Peter Dutton and just 26 per cent preferring Anthony Albanese’s Labor line-up.
Asked which side they trusted to keep the cost of living down, 32 per cent named the Coalition ahead of 25 per cent who voted for Labor.
When asked who was best at managing jobs and wages, 33 per cent said the Coalition and 32 per cent said Labor.
A recent opinion poll has delivered more bad news for Prime Minister Anthony Albanese (pictured right with his fiancée Jodie Haydon)
Labor saw its primary vote fall from 29 to 28 percent over the past month, while the Coalition held steady at 37 percent.
However, on a two-party preference basis, this put the rivals neck and neck.
When voters were asked how they would split their preferences, the Coalition rose to 51 per cent support on a two-party basis, while Labor reached 49 per cent.
In one of the only bright spots for Labor, Albanese moved up one percentage point to be voted preferred prime minister over Dutton, with the two polling 35 and 34 per cent respectively.
Among the minor parties, the Greens kept their primary vote steady at 13 per cent, while Pauline Hanson’s One Nation was also unchanged at 6 per cent, but support for independents nationally rose from 10 to 12 per cent.
The recent poll shows opposition leader Peter Dutton being overtaken as Mr Albanese’s preferred prime minister.
Resolve director Jim Reed told Nine newspaper that “voters thought the RBA was trying to solve problems caused in part by the government.”
“Being blamed for inflation is even worse than being perceived as not acting to reduce it, and that is why the government has been at pains to divert attention,” he said.
“But that doesn’t seem to be working, as more and more people are holding the government accountable.”
Following last week’s dismal news that Australia’s GDP grew by just 0.2 per cent over the final three months of 2023, Chalmers said high interest rates were “crushing” the economy.
Mr Swan, who was treasurer during the Rudd and Gillard Labor governments, went a step further on Friday, accusing the RBA of “punching itself in the face” and being “counterproductive” by not cutting rates.
“The government is doing a lot to reduce inflation, but the Reserve Bank is just punching itself in the face. It’s counterproductive and it’s not good economic policy,” Swan said.
The Resolve poll also showed the Coalition had maintained a strong lead over which party was the better economic manager.
On Sunday, Mr Chalmers distanced himself from Mr Swan’s comments on the RBA, which he said “went much further” than he would have gone.
However, he did not retract his comment that the bank was “wrecking” the economy.
Coalition treasurer Angus Taylor said the Albanese government was trying to blame the bank for its own failings.
The poll also showed the Greens holding their primary vote at 13 per cent, while Pauline Hanson’s One Nation remained unchanged at 6 per cent, but core support for independents nationally rose from 10 to 12 per cent over the month.
The RBA has set the cash rate at 4.35 percent, the highest level in 12 years, in an attempt to bring inflation down to the target range of two to three percent.
Inflation fell to 3.5 percent in July, compared with 3.8 percent in June.
The central bank has forecast that headline inflation will not fall to 2.8 percent until June 2025, returning to the target range for the first time since 2021.
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