Newspoll Shows Coalition Stuck on Low Rating
The (normally) two weekly Newspoll on 25 September showed the Coalition’s TPP had fallen by 1 percentage point to 46/54. Today’s Newspoll is a quarterly one that shows the TPP at 47/53 but this is the same as the previous two quarterly ones and, while Turnbull’s performance improved from 33 to 35 “satisfied”, Shorten’s “satisfied” also improved (from 32 to 34). Turnbull’s rating as PM fell fractionally to 43 (from 44) while Shorten’s stayed at 32.
Energy Policy is Getting Nowhere at All
Today’s Australian runs a front page story saying that “Australian households are paying 60 per cent more for their power than those in the US and double their Canadian counterparts”. But while Minister Frydenberg acknowledges that our power cost is “still too high”, he claims that most of the price hike occurred under Labor and that the Turnbull government is “taking unprecedented action to reduce pressure on …household bills “(see “Electricity Bills”). Short of subsidising electricity it is difficult however to envisage significant falls. Frydenberg has dug himself so deeply in the Turnbull camp that is difficult to see how he can get out. Readers of my Commentaries will be aware of the widespread scepticism about the various policy changes first being considered by Turnbull and then dropped or put on one side. As to falls in electricity bills, Frydenberg’s attempt to shift the blame on to Labor seemingly overlooks the recent large increases imposed by my retail supplier AGL and doubtless other similarly large retailers too.
Will Coalition’s TPP Hold?
Federal Parliament does not sit again until 16 Oct (and then only for one week) and I assume there will be a Newspoll tomorrow. With Turnbull’s inability to decide an energy policy and the National Party Conference rejecting a clean energy target and voting to eliminate subsidies for renewable, the Coalition’s TPP is unlikely to increase. Indeed, with the No votes increasing on same sex marriage (but still above 50%), and No voter former PM Howard highlighting Turnbull’s failure before the vote to (at least) publish proposed protection for those opposing official legislation endorsing SS on an on-going basis , these last two weeks are more likely to have produced a fall in the TPP. That would be “exciting”.
Our Power Bills
Today’s Australian says that the Renewable Energy Target (RET) of 23.5% by 2020 will not be changed as part of what is described as Turnbull’s overhaul of energy policy (see Renewable Energy Target). That target was reduced by Abbott when he was PM and the recent National Party Conference voted to “repudiate the central finding of the Finkel review for a clean energy target and eliminate subsidies for renewable to maximise the difference with Labor over surging power bills”, and hence to reject the Finkel proposed clean energy target of 42% of renewable energy by 2030. However, it appears that the halt to increasing the RET mainly reflects the mounting cost of the subsidies, which ran to a remarkable $2 billion just last year and which may already have reached the point where a continuation of the scheme would exceed the RET target without any new investment. There is a reference in today’s report to the likelihood of allowing more subsidies to those whose projects have not been completed. In other words the taxpayer is handing out money to a badly constructed scheme, not to mention the bad decision to have one at all before properly reviewing the basic need for it.
Coalition’s Polling Continues Bad & Quadrant Publishes My Recommended Replacement of Turnbull
Today’s Fairfax Poll confirms that, despite a big fall in Shorten’s performance measure (from 42 to 36) and a big rise in his disapproval rate (from 47 to 52), Labor maintains a TPP lead of 53/47. This is the same as the Newspoll published on 4 September. More importantly, the Fairfax poll shows that “Mr Turnbull's approval rating has fallen 3 percentage points since May to 42 per cent, and his disapproval has risen 3 percentage points to 47 per cent – placing the Prime Minister into net negative territory, according to voters' assessments” (see Fairfax Poll 11 Sept). In other words, Turnbull is not the man to persuade voters to “save” the Coalition.
How are Energy Prices Determined?
My Commentary last Sunday reported that, in a speech to the South Australian Liberal Party, Turnbull said that Labor’s approach to energy was a combination of ideology and politics, compared to the Liberal focus on economics and engineering. No doubt with the South Australian Labor Premier in mind, he classified South Australian policy as “it’s actually ideology and idiocy in equal measure”.