Labor’s primary vote slumps after broken promise budget
Labor's primary vote has dropped to 29% following the government's decision to break election promises on tax breaks for negative gearing and capital gains. The decline has benefited One Nation more than the Coalition, and Opposition Leader Angus Taylor is now preferred as prime minister over Anthony Albanese. Despite the backlash, some controversial budget measures, including changes to the capital gains tax discount, are gaining voter support.
- ▪Labor’s primary vote fell by three percentage points to 29% after breaking promises on negative gearing and capital gains tax.
- ▪Angus Taylor is now preferred as prime minister over Anthony Albanese, with a 33% to 30% lead in the latest poll.
- ▪Thirty-six percent of voters supported removing the 50% capital gains tax discount, while 42% remained undecided.
- ▪More than 40% of older property owners said the broken tax promises negatively affected their view of Labor.
- ▪Support from the budget backlash flowed to One Nation rather than the Liberal Party.
- ▪The poll was conducted by Resolve Political Monitor exclusively for The Sydney Morning Herald following the 2026 federal budget.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.