Governments cop blame for financial crisis

government-and-regulation/cent/financial-crisis/chief-executive/

9 February 2012
| By Staff |
image
image
expand image

If the Australian Government is suffering a credibility crisis with voters in the wake of the global financial upheaval, it is not alone with new research released by public relations house Edelman saying people throughout the world are blaming their governments.

The research - part of Edelman's annual Trust Barometer - found that throughout the world, people blamed their governments (more than any other institution) for the financial and political crisis they endured in 2011.

Where Australia is concerned, the research revealed only one third (33 per cent) of the general population trust the institution of government to do what is right.

It said that a huge gap had opened up between what people see as important and how well they think important tasks are being handled.

"While 71 per cent of Australians say it is important that the country's financial affairs are managed effectively, only 18 per cent think this is happening - an 'underperformance gap' of 53 points," the Edelman analysis said.

 "There is a complete misalignment between the public's expectations of government and what they think is actually being delivered," according to Edelman Australia chief executive, Michelle Hutton.

 "Sixty per cent of Australians do not trust government leaders to tell the truth, and the majority (58 per cent) thinks the country is on the wrong track," she said.

The research found that business - while more trusted than government - still has some hurdles to clear.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

4 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

6 months 2 weeks ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

1 week 4 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 days 12 hours ago

ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam. ...

4 days 16 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3