Voters turn sour on Albo from Marketing

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The latest Roy Morgan polling on voter intentions shows that Labor’s lead has whittled away, while confidence in the government has collapsed:

Voting intentions

ALP support was down 1.5 percent to 53% compared to the Coalition on 47% on a two-party preferred basis.

Government confidence was also down 6.5 points to 76.5 this week. That’s the lowest it has been since the Albanese Government was elected.

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Now, a rising majority of 54.5% of Australians say the country is heading in the wrong direction, while only 31% say the country’s going in the right direction.

Voters appear to be waking up to Labor’s spin, as they did with the Rudd Government.

We’ve had a change of government but no real change.

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We’ve simply transitioned from a Canberra that engages in conservative virtue signalling to a Canberra that engages in progressive virtue signalling, all while the real problems worsen.

It is arguably worse now. Albo’s Labor is the smiling wolf dressed as a sheep.

Albo’s nice guys have committed to bringing in a record 1.5 million migrants over the five years to 2026-27:

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NOM

Source: 2023 federal budget

This immigration deluge has received no planning or preparation. There has been zero consultation with the public. And it will obliterate wages, infrastructure, and housing.

In terms of housing, we are experiencing the worst rental crisis in living memory.

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Rental growth

Albo does not have an answer, just policy spin. His mad mass immigration program is making the problem worse by the day while his Housing Australia Future Fund is an embarrassing farce, and his “plan” to build 1.2 million homes in five years has a snow flake’s chance in hell of being achieved.

On energy and the robber barons, Albo’s nice guys have failed to prevent a bill shock. They’ve dawdled since coming to office, cowering in fear of miners, and acted too late with too little. Their measures are pathetic.

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Utilities inflation

On employment, Albo’s nice guys have flooded the labour market with migrant supply, ensuring rising unemployment and lower wages:

Labour supply growth
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On security, Albo’s nice guys are cozying up to China again, complete with increased economic vulnerability and political bribery risk.

In terms of broader policy, there is no rational process in the national interest. It all comes down to virtue signalling, distractions, and managing interests.

The Australian people are at the bottom of the heap.

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Albo is again another marketing sham.

Real wages

He parades around the world advocating culture war points of view as actual Australian living conditions fall at an alarming rate.

Remember, Albo’s Labor did not win in 2022 due to an increase in votes (it actually fell by 1%) but due to voters abandoning the Liberals (they fell by 6%):

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Political partisanship

Labor’s primary vote was pathetic. And it won’t take much for Australians to dump the party like they did during the Rudd/Gillard years.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.