West Aussies pessimistic about household budgets, economy as Premier sees light at end of inflation tunnel

West Aussies are pessimistic about their finances, with two in five voters fearing they will be worse off in the next 12 months, a poll shows. And with the iron ore price hitting a new two-year low on Monday, they are increasingly concerned about the State’s economy, with 38 per cent expecting it to deteriorate by this time next year. However, voters are split on whether the State is headed in the right direction, with 41 per cent believing it is and 39 per cent saying it isn’t. Freshwater Strategy polled 1045 West Australians last week, and the results showed that 40 per cent of West Australians believed they would be worse off in 12 months, compared to just 31 per cent who thought they would be better off. Despite the economic anxieties, Premier Roger Cook said earlier this week that the worst inflation pressure had passed and that the Reserve Bank’s focus on reducing consumption had worked. “We’re now looking at a situation where you can anticipate that in the future, you will see the commercial banks start to ease on their interest rates,” Mr Cook said. “But in the meantime, we understand that we as a government have got a responsibility and an obligation to assist people in Western Australia with the cost of living burden, and that’s why you’ve seen such a huge range of activities. “We are the cost-of-living relief government, and we will continue to do whatever we can to continue to make Western Australia a great place to live.” The comments come amid a flurry of pre-election spending on cost-of-living measures, including payments for families with school-aged children, power bill credits, and free public transport. Liberal leader Libby Mettam rejected the Premier’s optimism, speaking of a “new cohort of working poor”. “Try telling that to over 400,000 households in Western Australia who are struggling to put food on the table,” she said. “It is no longer enough to have a job in Western Australia — we are seeing a new cohort of working poor who are struggling to put food on the table and a roof over their head, all while Roger Cook is pocketing a multi-billion dollar boom thanks to our iron ore and a GST fix.” The poll also found that Labor was set to be returned to Government at the next election, but both Mr Cook and Ms Mettam’s net approval (+7 and +4, respectively) was overshadowed by that of former premier Mark McGowan (+41). Mr Cook said voters remembered Mr McGowan’s success tackling the pandemic with ”affection”. “People remember the work that my government did under Mark McGowan in keeping Western Australians safe, making sure that we had the best response to COVID almost globally,” he said. Ms Mettam said she would not be “distracted” by polling. “We are very much focused on March next year. Our focus is holding the Cook Labor Government — a tired and incompetent government to account,” she said. “We appreciate we have a lot of work to do, but we are focused on the priorities that matter — the cost of living, law and order, issues and a broken health system.” Amid the cost-of-living crunch, West Australians are also concerned about the cost of net zero, with almost 60 per cent saying they would prefer not to reach the climate target if it meant energy bills would climb by more than $10 a month. A little over half supported the reduction of emissions, but only at a cost of an extra $5 each month. In a blow to renewable energy projects, a majority of voters (52 per cent) said they would support increasing WA’s reliance on fossil fuels if it meant lower power bills.