Global crisis blamed for low confidence: Australian PM
2/7/2008 15:46
Australian Prime Minister Kevin Rudd said today that the surging oil
prices and the global financial crisis were blamed for Australians' lowest
confidence level since the recession.
The latest Newspoll survey of standard
of living expectations has found Australians fear for the future and believe
their standard of living is going to drop in the next six months.
The poll,
conducted for News Ltd, shows the percentage of people who think their living
conditions will worsen has jumped from 18 percent just after November's federal
election, to 43 percent - the biggest jump in the survey's 23-year
history.
In contrast, just 13 percent of people believe things will improve
in the next six months, down from 21 percent, while 42 percent remained
undecided.
Rudd said oil prices and the global financial crisis had brought
confidence down to record levels in the United States, Britain and New
Zealand.
"We have a global phenomenon in Canberra and it's about the global
financial crisis, which has been unfolding since August of last year,"
Australian Associated Press quoted him as saying in Sydney.
"We have this
year the greatest global oil shock in 30 years. And in Australia's case, we also
have the cumulative effect of 12 interest rises in a row - 10 before we assumed
office. All this washes through," he said.
Xinhua
|
