Generation Y expect the carbon tax to be the factor that hurts them the most financially in 2012, according to a national survey by leading mortgage broker Priority Lending.
The Priority Lending poll which asked “What factor is most likely to negatively impact you financially next year?” found the majority of the 484 respondents said the carbon tax.
Priority Lending Chief Operating Officer Dean Rushton said 39 per cent of respondents nominated the carbon tax as their biggest financial negative in 2012, while 30 per cent said utilities costs, 21 per cent interest rates and 10 per cent fuel prices.
“Even though it does not come in until July 1 next year, the majority of our respondents cite the carbon tax as their biggest financial concern for 2012,” Mr Rushton said.
“There’s even more concern among Generation Y with 51 per cent of respondents to the online survey in that age group saying the carbon tax would have the greatest negative impact.
“They are more worried about the carbon tax than rising utilities or fuel costs or upward movement in interest rates.”
Mr Rushton said the survey results highlighted how consumers were less concerned by interest rate rises than they were earlier this year.
“The Reserve Bank of Australia cutting interest rates for the first time in more than two and half years has provided some clear direction for consumers,” he said.
“There is no doubt in that they will need to cut further to continue to shore up confidence in the current global environment.”
Priority Lending survey results:
What factor is most likely to negatively impact you financially next year?
Carbon tax – 39 per cent
Interest rates – 21 per cent
Fuel prices – 10 per cent
Utilities costs – 30 per cent
Source: Priority Lending
