Coalition leaps ahead of Labor in first poll of 2024

Advertisement

2024 has begun poorly for the Albanese government with the Dutton-led Coalition taking the lead in Roy Morgan’s first poll of voting intentions for the year.

The Coalition’s two-party preferred support has increased to 51% (up 1%), while Labor’s now stands at 49% (down 1%), as the cost-of-living crisis intensifies.

Roy Morgan has also noted sizeable shifts in the primary votes of both major parties.

The Coalition’s has increased to 39%, representing a 1% rise from December, while Labor’s plunged by 3% to just 29% – well below their election result.

Advertisement

The Greens are up 1.5% to 13% and One Nation is up 0.5% to 5%. While support for Independents & Other Parties didn’t change at 14%.

The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,716 Australian voters from January 1-7, 2024.

The plunge in Labor’s support can be encapsulated by the below chart from the September quarter national accounts, which shows that real per capita household disposable income plunged by 6% last year to around 2011 levels:

Advertisement
Real per capita household disposable income

Basically, Australian households have endured the biggest collapse in their living standards on record and they do not take too kindly to the gaslighting from the Albanese government claiming that it is delivering better outcomes for Australians.

Australians also do not take kindly to Labor engineering a housing, crisis and forcing their fellow countrymen to live in their cars and tents, by pursuing the largest immigration program in history.

Advertisement

Given unemployment is expected to rise significantly in 2024, wage growth will likely stall, and the rental crisis will continue, expect Labor to continue languishing in the polls.

The main barrier to an easy Coalition victory is the unpopularity and untrustworthiness of Liberal leader Peter Dutton.

It’s a case of ‘pick your poison’ when it comes to the two major parties.

Advertisement
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.