Upbeat voters ready for political warfare

Consumers head into the federal budget and a possible double dissolution election in a positive mood.

Malcolm Turnbull

Australian Prime Minister Malcolm Turnbull speaks to the media during a press conference at Parliament House in Canberra Monday, March 21, 2016. Source: AAP

Voters head into a gruelling period for Australian politics in a positive mood.

The coming weeks will be dominated by the May 3 budget and a possible double dissolution election on July 2 - effectively a 15-week election campaign.

The latest ANZ-Roy Morgan consumer sentiment gauge has confidence comfortably above its long-run average, despite a modest decline in the past week.

"Aussie consumers are in good shape ... there are few reasons to be negative," Commonwealth Securities chief economist Craig James said on Tuesday.

He said consumers remain upbeat about their family finances, the Australian dollar has risen, interest rates are at generational lows and petrol prices are just above six-year lows.

However, the latest survey would not have captured the prime minister's decision on Monday to recall both houses of parliament from April 18 and to bring forward the budget.

Malcolm Turnbull has promised a comprehensive tax package in the May 3 budget.

But the government refuses to say whether business will enjoy a tax cut after it signalled personal income tax cuts were off the table.

Treasurer Scott Morrison said the government does not have unlimited options but has always been focused on economic growth.

"The impact of changing company tax is well known to have a positive impact on growth," Mr Morrison told Sky News.

The budget has been brought forward one week from May 10.

The early budget gives Mr Turnbull sufficient time to call a double dissolution election if the Senate rejects government legislation restoring the building industry watchdog and toughening penalties for union corruption.

Shadow treasurer Chris Bowen said Mr Turnbull has chosen to kick off Australia's longest ever election campaign.

"Well, if he wants to do that he might want to turn up with some policies, he might want to turn up with a bit of vision," Mr Bowen told reporters in Hobart.

Finance Minister Mathias Cormann said people will have more time than normal to properly assess the ins and outs of the government's proposed tax policy.


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Source: AAP


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