Fresh polling has showed the government’s overhaul of stage three tax cuts is largely backed by voters, with Treasurer Jim Chalmers clarifying the timeline of Labor’s discussions surrounding the reforms.
The results from the latest Redbridge survey, published by The Daily Telegraph on Sunday, revealed 60 per cent of those polled either supported or strongly supported the tax cut changes.
However, despite support for the revised tax package, Labor has taken a slight hit on its two-party preferred vote.
On a two-party preferred basis, the Coalition has risen to 48.8 per cent from 47.2 per cent in December, while the government has slipped from 52.8 per cent to 51.2 per cent.
Labor’s primary vote among women has also slumped five points since August to 30 per cent, while the Coalition’s vote has increased from 36 per cent to 41.
About half of respondents said they trusted Labor to best manage economic policy over the Coalition, 32 per cent to 28 per cent.
Labor’s primary vote in general remains at 33 per cent, where it sat in Redbridge polling last December, while the Liberal Party has gained three points to now reach 38 per cent.
The latest results appear to be on par with the first Newspoll of 2024 which showed 62 per cent of voters supported Labor’s tax reform.
Prime Minister Anthony Albanese has faced backlash over his broken election promise to not change stage three tax cuts, after reaffirming for months they would remain untouched.
Speaking to Sky News on Sunday, Treasurer Jim Chalmers doubled down on the timeline of the changes, brought on by the need to provide more cost of living relief to middle Australia.
“What the Treasury did at that meeting on the 11th of December was indicate, that they thought the best way to satisfy those objectives was via the tax system,” he told Sky News Australia Political Editor Andrew Clennell.
“It became increasingly clear to us over the course of the summer, that a needing to go bigger and broader with cost of living relief without putting upward pressure on inflation, that the proposal that the cabinet decided on the 23rd of January was the best way to go.”
The Labor caucus unanimously endorsed the changes during a meeting centred on the cost of living crisis on January 23, with the legislation introduced to parliament this week.
The overhaul, set to come into effect on July 1, will see tax cuts almost halved for higher income earners while delivering relief to those Aussies on lower to middle incomes.
“Better for relief and better for economic reform, more relief for Middle Australia and the sort of economic reform which will boost, labour market participation and work incentives,” Mr Chalmers said on Sunday.
“And so what we’re proposing here is really important. It will give people a bit more help, but it’ll also reform the economy.
“There’s more than one way to reform the tax system and what we’ve proposed is the best way.”