Most Aussies 'think the Budget will leave them worse off'

Mozo

Thursday 12 May 2011

The need to open savings accounts and start putting money away for times of need may have been highlighted recently by a poll in which more than nine out of ten people asserted that they believed they would be worse off after the Budget.

Most Aussies 'feel the Budget is not in their favour financially'

Only eight per cent of respondents in the study conducted by the Herald Sun said they would be in a better situation financially after Treasurer Wayne Swan's recent announcements.

The revelation that families with incomes of $150,000 or more will have to pay extra for things such as a flood levy were criticised by leader of the opposition Tony Abbott, who said the government is "not tough on waste, but is tough on families".

"Sometimes we have to tighten our belt a bit and that's what we're doing with family payments at the top end," Mr Swan responded.

In the final quarter of 2010, the country's gross domestic product rose by 0.7 per cent, up from 0.1 per cent in the preceding three-month period.

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