Key posts
- Voters believe they’re doing their bit on climate but want government to do more
- Ex-RBA boss says don’t ‘pussyfoot around’ on interest rates rise
- This morning’s headlines at a glance
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Voters believe they’re doing their bit on climate but want government to do more
A clear majority of Australians believe they are personally playing their part in acting on climate change amid a growing election fight over the cost of reducing greenhouse gas emissions, with 73 per cent of voters saying they are doing their bit to combat the problem.
About half the electorate is also willing to pay a personal cost to reduce carbon emissions, according to an exclusive survey conducted when Prime Minister Scott Morrison and Labor leader Anthony Albanese argued last week over the economic impact of achieving net zero emissions by 2050.
Forty-five per cent of voters said they supported Labor’s policy to tighten the requirements on big emitters, including coal mining companies.Credit:The Age/ Sydney Morning Herald
But 40 per cent of voters say they are not willing to pay a personal cost to reduce emissions and this group has grown since last October, with the number of undecided voters on this question shrinking.
The survey, conducted by research company Resolve Strategic for The Sydney Morning Herald and The Age, highlights the challenge for Morrison and Albanese on climate policy when voters are divided on the best way to act on the problem.
More on the polling here.
Ex-RBA boss says don’t ‘pussyfoot around’ on interest rates rise
The Reserve Bank should not “pussyfoot around” with a small interest rate rise today, former governor Bernie Fraser says, arguing it has to move quickly to dampen inflation pressures being fed by loose fiscal policy and spending promises made during the election campaign.
Fraser, who lifted interest rates by 2.75 percentage points in 1994, which former prime minister Paul Keating said contributed to his 1996 election loss, said it was clear there was too much “stimulation” in the economy and the RBA needed to tackle it sooner rather than later.
Former Reserve Bank governor Bernie Fraser says the RBA should not “pussyfoot around” but lift rates by half a percentage point on Tuesday to quell inflation pressures.Credit:Alex Ellinghausen
A half percentage point increase would add $211 a month to the repayments on an $800,000 mortgage.
The RBA board meets today and financial markets and most economists expect it to lift the cash rate by 0.15 percentage points to 0.25 per cent. It would be the first rate increase since November 2010 and the first in an election campaign since 2007.
Read the full story here.
This morning’s headlines at a glance
Good morning and thanks for your company.
It’s Tuesday, May 3. I’m Broede Carmody and I’ll be anchoring our live coverage for the first half of the day. Lisa Visentin will be on deck later this morning to help cover the blow-by-blow of the election campaign.
Here’s what you need to know before we get started.
- The Reserve Bank is widely tipped to lift interest rates this afternoon (which could result in people with mortgages paying hundreds of extra dollars a month on their repayments). The last time interest rates went up during an election was the 2007 contest that John Howard lost.
- Prime Minister Scott Morrison says an interest rate rise “isn’t about politics”. However, Labor says an interest rate rise would be the “third wave of Scott Morrison’s cost-of-living crisis” (the other two being stagnating wages and high inflation, according to the opposition).
- Speaking of the two major parties, a third election debate has been locked in. Opposition Leader Anthony Albanese and the PM are due to face off on Channel Seven on May 11 – just 10 days before election day. The debate will be hosted by Seven News political editor Mark Riley, The West Australian’s federal political editor Lanai Scarr and Seven’s political correspondent Jennifer Bechwati.
- In climate news, David Crowe writes that voters believe they’re doing their bit to tackle climate change but want the government to do more. And one in 25 homes will be uninsurable by 2030 due to climate change, according to a new study.
- And in other news, the PM has written to religious organisations to promise a revival of his government’s religious discrimination bill if re-elected on May 21. The previous iteration of the religious discrimination bill was scrapped after a handful of moderate Liberal MPs crossed the floor to vote down the legislation, citing concerns about LGBTQ students at religious schools. And Morrison has also ruled out a referendum on an Indigenous “Voice” to parliament if re-elected.
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