Newspoll: Only one in eight voters are convinced Budget will reduce inflation

Only one in eight voters are convinced the Albanese Government’s first full Budget since the election will reduce inflation, according to the latest Newspoll.

Just 13 per cent of respondents said they thought the impact on inflation would be improved by the Budget, while 39 per cent believed inflation would become worse.

The budget included $14 billion for cost-of-living relief, which Treasurer Jim Chalmers said covered a boost to welfare payments, lower power bills and more affordable housing.

However, only 20 per cent of voters said they would be financially better off after the budget.

Overall, a third of voters said they thought the Budget would be good for the economy and 28 per cent believed it would have negative economic consequences.

The Coalition marginally improved its position on a two-party preferred basis, gaining one point to 34 per cent.

Labor remained at 38 per cent.

Prime Minister Anthony Albanese and Opposition Leader Peter Dutton’s approval ratings both increased.

Mr Albanese remained well ahead as preferred prime minister with 56 per cent to Mr Dutton’s 29 per cent.