Australia Social media's reaction to the federal budget was very different to news coverage

09:00  09 may  2018
09:00  09 may  2018 Source:   businessinsider.com.au

'We cannot push this to breaking point': Scott Morrison on why tax relief is coming for Australian households

  'We cannot push this to breaking point': Scott Morrison on why tax relief is coming for Australian households In the 2015-16 financial year, the Australian Tax Office (ATO) collected $186 billion in personal income tax. 65% of that figure was collected from just 23% of taxpayers. Australian Treasurer Scott Morrison flagged income tax cuts in the upcoming Federal Budget.Australian Treasurer Scott Morrison has flagged personal income tax cuts for the taxpayers in the top income brackets in a major speech today ahead of the federal budget.

For many on social media , the reaction seems very different from how the media would react if, say, black or Muslim protesters with guns took over a government building instead of a predominantly white group. Fox News . The coverage also generally had little language about the threat of violence.

Read More News Stories. It' s useful to think of the federal budget cycle in four phases. The first phase is agency planning; the second phase covers budget review by the Office of Management and Budget .

  Social media's reaction to the federal budget was very different to news coverage © Provided by Business Insider Inc Social media gave more attention, and made more negative comments, about the tax cuts in the federal budget than coverage by online news sites.

Meltwater, a media analysis service, looked at 29,000 Twitter posts and 3369 online news articles published from 7.30pm (AEST) on Tuesday when Treasurer Scott Morrison started his budget speech to 8 am Wednesday.

Social media was also highly critical of environmental issues raised in budget, as this chart shows:

a screenshot of a cell phone© Provided by Business Insider Inc

More than a third (38%) of social media attention was on the tax cuts but news sites only devoted a quarter (24%) of articles to the topic, as these charts show:

Victoria to get $8b for new roads and rail

  Victoria to get $8b for new roads and rail Nearly a third of the nation's infrastructure pie will be spent on addressing the state's escalating congestion problems. Given Melbourne's dramatic population growth and the burden that's placing on the city’s transport network, nearly a third of the government's $24.5 billion infrastructure budget will be handed to Victoria.About $1.75 billion will be set aside to help build North East Link and for new tunnels and extra lanes on the Eastern Freeway.

While federal funds cover at least half - and as much 95 percent - of the cost for citizens and legal Ting, the head of the Assembly budget committee, said lawmakers were exploring ways to 'I'm very concerned that this tax cut is a tax increase for middle-class and working-class Californians,' Ting said.

Broadcasting Board of Governors | FY 2016 Congressional Budget Request 3. satellite TV, the web, live streaming, mobile devices and social media to a record weekly global audiences of 215 million people.

a screenshot of a cell phone© Provided by Business Insider Inc

And

a close up of a device© Provided by Business Insider Inc

Overall sentiment of social media posts about the budget was mostly negative at 50% with just 5% positive. However, there was a large chunk of neutral sentiment at 45%, as this chart shows.

  Social media's reaction to the federal budget was very different to news coverage © Provided by Business Insider Inc

Coverage at online news sites was more neutral:

Turnbull government finally buys into Melbourne's congestion problem

  Turnbull government finally buys into Melbourne's congestion problem In the past 50 years, federal and state governments have combined to build one new rail line in Victoria. That figure just doubled and then some in a morning.That figure just doubled and then some in the space of a morning.

Business. Media player. Forecasts are always going to turn out to be incorrect but I think it' s certainly the case at the moment there' s more uncertainty, more risk than what we normally have so we shouldn't be surprised if things turn out very , very different to what anyone thinks is going to happen.

More coverage of the 2016 federal budget . "The situation is very different than the 1990 s ," said that same senior Liberal recently. On that thesis — that a struggling economy and strained middle class need help and that the federal government' s relatively low debt-to-GDP ratio makes spending

a screenshot of a cell phone© Provided by Business Insider Inc

As expected, Treasurer Morrison gained the biggest share of voice on the night. On social media, he was in 42% of the discussion with Prime Minister Malcolm Turnbull on 29% and Opposition Leader Bill Shorten 11%.

a screenshot of a cell phone© Provided by Business Insider Inc

Comment: Australia's economy will come back to 'haunt' Scott Morrison's optimistic budget projections .
Australia's budget position is the best it's been in the post-GFC era, helped by stronger commodity prices and employment growth over the past year. It has allowed treasurer Scott Morrison to cut income taxes and project a return to a budget surplus one year ahead of schedule, an outcome that few would have expected just 12 months ago.However, as any forecaster knows, it's always dangerous to extrapolate near-term movements over a longer time horizon.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!