Carbon tax tops interest rate worries

by Adam Smith16 Nov 2011

The carbon tax is weighing on consumers' minds, with Gen Y showing the most concern over the levy.

A new poll by Loan Market has found 39% believe the carbon tax is the economic factor most likely to negatively impact their finances next year. Gen Y respondents were even more wary, with 51% nominating the carbon tax as the most worrying financial factor.

Loan Market COO Dean Rushton said the tax trumped fuel and utility prices and interest rates  to top consumers' list of concerns. Thirty per cent of respondents listed rising utility costs as a worry, while 21% nominated interest rates and only 10% tipped fuel prices. Rushton said the RBA's recent rate cut had alleviated consumers' worries over interest rates.

"There is no doubt in that they will need to cut further to continue to shore up confidence in the current global environment," he said.

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