Budgets weigh on WA consumer confidence

Written By Unknown on Selasa, 10 Juni 2014 | 15.02

A FALL in consumer confidence in Western Australia is further evidence that federal and state budgets have hit taxpayer sentiment hard, member for Perth Alannah MacTiernan says.

The latest WA Chamber of Commerce and Industry-Curtin Business School survey of consumer confidence shows sentiment remains at record lows.

Almost 90 per cent of respondents said they expected the economy would remain the same or deteriorate over the next three months.

While high living costs was the most significant issue on 53 per cent of consumers' minds, 49 per cent of respondents rated the political environment as a major concern, up from 40 per cent in March.

Ms MacTiernan pounced on the figures, saying the survey was taken at a time where pre-budget speculation dominated, so consumer confidence might have fallen even lower, given households would have since digested the numbers.

"The Abbott government promised to 'turbo charge' consumer confidence and what we have seen in the lead up and with the May budget is the exact reverse, with the treasurer making it clear that the budget was about hitting household consumption," Ms MacTiernan said.

"That inevitably meant pensioners, students and families relying on basic services and payments to get ahead would suffer."

In the state budget, which was handed down five days before the federal budget, WA households were slugged on average an extra $324.18 a year for electricity, water, public transport and car registration.


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