Prime Minister Julia Gillard
Prime Minister Julia Gillard Chris Ison

Poll reveals Federal Budget worries for Australians

AUSTRALIANS appear to be bracing for the worst ahead of next month's Federal Budget, with an Essential poll showing just 12% of people think it will be good for them.

Conversely the poll, which came on the same day Prime Minister Julia Gillard revealed tax revenue had taken a $12 billion hit, found 38% of respondents thought the budget would be bad for them personally.

A further 38% thought it would be neither good nor bad for them.

Of the people who were expecting good things in the budget, 20% were Labor voters.

Ms Gillard used a speech on Monday to say the pain of any budget cuts would be shared.

Essential also asked respondents which measures they supported to boost revenue and cut spending in the budget.

Increasing taxes for big corporations was the most popular measure - supported by 64% of people.

Reducing tax breaks for high income earners was next on 45%, while cutting middle class welfare - including the baby bonus, first home buyers grant and Family Tax Benefit payments - was third on 37%.

Cutting spending on defence (35%) and postponing the rollout of the National Broadband Network (34%) rounded out the top five budget measures favoured by respondents.

Cutting infrastructure spending on roads and highways was the least popular idea, with just 14% supporting the measure.

Confidence in the Australian economy also appears to be waning.Just 36% of people said they thought the economy was heading in the right direction - a fall of 7% since May last year and 15% since the May 2010 budget.

Around four in 10 people thought the economy was heading the in wrong direction, while one in four said they didn't know.

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