Australia successfully survived the Global Financial Crisis under the stewardship of a federal Labor Government which did not panic and, with the cooperation of states and territories, acted swiftly to support weak points in the national economy.
So well did the nation weather this financial tsunami that a year on from the initial rolling economic destruction it was being openly stated by northern hemisphere economic commentators that Australia was the envy of the rest of the developed world and, in 2012 in comparison with that same developed world we still have low unemployment, low levels of government debt, low interest rates, an economy which is holding its own despite an historically weak manufacturing sector and good international credit ratings.
Which begs the question of why this Essential Report survey question elicited negative attitudes in these responses below - from 42 per cent of the very people who barely felt any effect of this global crisis.
Trust to deal with GFC
May 7, 2012
Q. If there was another Global Financial Crisis, which party would you trust most to deal with it?
15 Aug 11
The Labor Party
The Liberal Party
If there was another GFC, 42% would trust the Liberal Party more to handle it and 25% would trust the Labor Party more. This represents a shift to the Liberal Party from net +9% to net +17%
The Liberal Party was rated higher than Labor with all demographic groups. Those most likely to trust the Liberal Party more were men (47%), aged 55+ (48%), full-time workers (50%) and income over $1,600 pw (50%).