Half of Australians worse-off financially than 2 years ago: Poll

Canberra : Half of Australians say they are in a worse financial position than two years ago, a fresh survey revealed on Tuesday.

According to the Newspoll survey published by News Corp Australia newspapers on Tuesday, 50 per cent of voters believe they are worse-off now compared to two years ago, and 16 per cent feel they are better-off, with the remaining 34 per cent saying their financial position was about the same, reports Xinhua news agency.

The poll found that women were more likely to feel worse-off than men - 53 per cent compared to 48 per cent - and that 60 per cent of respondents aged 35-49 said they were worse-off. Renters were the most likely to feel worse-off, the poll found.

A separate Newspoll survey published on Monday found that voter support for the governing Labor Party and Prime Minister Anthony Albanese has fallen.

On a two-party preferred basis Newspoll found that Labor is now deadlocked 50-50 with the opposition Coalition after leading 52-48 at the start of November and 54-46 in mid-October. Asked in Parliament on Monday about cost-of-living pressures, Albanese declared it the government's "number one priority".

"There are three vital ways you can tackle cost-of-living. You get costs down for families, you get wages up for workers, but you can also get the budget onto a stronger foundation, and we are doing all three," he said.

Albanese and Treasurer Jim Chalmers will in December hand down the Mid-Year Economic and Fiscal Outlook (MYEFO).

According to financial statements published by the government on Friday, the budget's underlying cash balance is tracking A$9 billion better through the first four months of the 2023-24 financial year than projected in May.