YouGov’s latest Public Data poll has revealed that younger Australians think Australia should be more socialist, however older Australians are more inclined to be neutral, neither favouring a more capitalist nor more socialist direction.
In this survey Australians were asked if they think Australia should be more socialist or capitalist on an eleven-point scale, 0-10. 0-4 indicates a degree of support towards socialism, and 6-10, a degree of support for capitalism. 5 is the neutral option, placed equally between socialism and capitalism.
This poll found that 53% of 18-24-year-olds think Australia should be more socialist, while only 22% think it should be more capitalist; a net support for socialism at +31%.
In contrast, 41% of Australians, as a whole, chose the centre option of neither more socialist nor capitalist. 27% thought Australia should be more socialist and 32% more capitalist, placing the net support in favour of capitalism at +4%.
As for the generational divide, there is a stark difference between those aged 34 and under, versus over 35 years.
41% 18- to 34-year-olds favour a more socialist Australia, 34% neither prefers more socialism nor more capitalism, with only 22% preferring a more capitalist nation. This places the net support in favour of more socialism by +19%.
In contrast, 44% of Australians aged 35 and over stick resolutely to the centre, neither more socialist nor capitalist, while 34% favour capitalism and 21% socialism. Net support is placed in favour of more capitalism by +13%.
By party vote, those who voted for the Greens were the most in favour of more socialism. This was supported by 61% of voters. 30% expressed they were neutral, and only 9% more in favour of capitalism, resulting in an exorbitant net of +52% for socialism.
Comparatively, the Coalition voters were the only group of voters in favour of Australia being more capitalist, as expressed by 48%. 40% were neutral, with 12% more in favour of socialism, resulting in a net of +36% for capitalism.
YouGov’s Director of Public Affairs and Public Data, Paul Smith said, “Australia’s opinion towards socialism is divided generationally, with young people in favour of more socialism due to their very different experience of entering the workforce after the 2008 financial crisis. They have paid more for homes and education without the secure and well-paying jobs older Australians generally enjoyed, and therefore favour change.”
Methodology: This survey was conducted between 31 May and 4 June 2024 with a sample of 1500. Results are weighted to be representative of the population by age, gender, education, AEC region, household income, weighting by past vote (Federal vote and Voice referendum), with an effective margin of error of 3.2%. See Australian Polling Council methodology statement for full weightings.
YouGov correctly predicted the result of the recent referendum at 40% Yes, 60% No, and is a founding member of the Australian Polling Council, as well as a global leader in polling research. We are the only polling company to have polled our entire panel of survey participants to ensure our polls are representative of how Australians vote in the Voice referendum.
For further information or comment contact Paul Smith, Director of Government paul.smith@yougov.com.
