Newspoll: Budget falls flat with voters but Labor and Anthony Albanese are up in poll

Labor’s budget has fallen flat with voters according to the latest Newspoll, but ratings for Prime Minister Anthony Albanese have risen.

Treasurer of Australia Jim Chalmers’ third budget is not a hit with voters, according to the latest exclusive Newspoll conducted by The Australian.

A ­record low number of people think it is good for the economy while a majority believe it will worsen inflation.

And a minority of people believe they will be financially better off, despite a tax cut, rental ­assistance and a $300 energy subsidy exceeding the handouts of the last two budgets.

Only 27 per cent of voters believed Labor’s budget would be good of the economy - the lowest score since Newspoll began assessing voters’ reactions to budgets in 1999.

Asked whether they would be better or worse off in their own personal financial situation, 27 per cent of voters said they would be better off from the budget, compared to 29 per cent saying they would be worse off.

Treasurer of Australia, the Hon Dr Jim Chalmers MP during post budget media interviews at Parliament House on May 15, 2024 in Canberra. Picture: Tracey Nearmy/Getty Images

A significant majority of voters, 39 per cent, believed the budget would be worse for inflation compared to only 15 per cent saying it would be good for inflation. These results echo those of Dr Chalmer’s 2023 budget.

Additionally, voters were not convinced that the Chalmers budget will return inflation to the central bank’s target range of 2-3 per cent by Christmas.

However, the post-budget poll shows Labor’s primary vote lifted a point to 34 per cent, and the two-party-preferred vote gained two points in its favour to 52-48.

The Coalition’s primary vote fell a point to 37 per cent while the Greens lifted a point to 13 per cent.

Anthony Albanese has also ­returned to a neutral approval ­rating for the first time since the failed voice referendum and ­increased his lead over Peter Dutton as preferred prime minister.

The Prime Minister, Anthony Albanese pictured at Gosford Hospital with the Member for Dobell, Emma McBride, and the Member for Robertson, Dr Gordon Reid. Picture: NewsWire / Monique Harmer

During a visit to the marginal NSW Central Coast seat of Robertson on Sunday, the Mr Albanese said he and his ministers would be travelling the country promoting the new cost-of-living relief and his Future Made in Australia agenda.

“A tax cut for every taxpayer. Energy bill relief for every household. Strengthening Medicare for every community. And making a difference to people. Our priority was to provide cost of living relief without putting pressure on inflation. And we’ve done that. But a second priority as well is, of course, a Future Made in Australia,” Mr Albanese said at Gosford Hospital according to The Australian.

The Coalition labelled the budget as the “most irresponsible in history.”

Mr Dutton announced the Coalition would slash the migration rate as a key cost-of-living measure designed to address the housing crisis.

More Coalition voters said they would be worse off under this budget than better off.

On the question of whether the Coalition would have delivered a better budget for the current economic conditions, the margin narrowed over previous budgets, with 43 per cent saying no and 37 per cent saying yes.

The Opposition Leader, Peter Dutton delivers his budget in reply address in the House of Representatives at Parliament House in Canberra. Picture: NCA NewsWire / Martin Ollman

Despite voters’ questioning of the effectivesness of the budget, Mr Albanese’s approval ratings lifted three points to 47 per cent.

Those dissatisfied with his performance fell three points to 47 per cent marking the first time Mr Albanese has been out of negative territory since the voice referendum last October.

Mr Dutton’s approval rating lifted two points to 38 per cent while his disapproval ratings fell a point to 50 per cent. He remains in negative territory with a net approval rating of minus 12.

Mr Albanese also extended his lead as preferred prime minister over the Opposition Leader, lifting four points to 52 per cent compared to Mr Dutton, who fell two points to 33 per cent.

Originally published as Newspoll: Budget falls flat with voters but Labor and Anthony Albanese are up in poll