Voters have little faith in Labor’s ability to handle another financial crisis if it eventuates, according to today’s Essential Report.

A significant majority of voters say that if there was another global financial crisis, they would trust the Coalition to handle it more than Labor, 43% to 27%. Labor’s handling of the GFC, involving bank guarantees and rapid stimulus packages, was the high point of the Rudd government and has been lauded internationally as one of the best responses to the crisis. But Labor has proved unable to fend off a campaign by sections of the media and the Coalition to portray its stimulus packages as incompetent and wasteful, and in dumping Kevin Rudd been unwilling to emphasise his successes. However, responses do strongly follow party lines, with 77% of Labor voters saying they trust Labor more, 86% of Liberal voters saying they trust the Liberals more, and 42% of Greens saying there’s no difference between the parties, in addition to 41% saying they trust Labor more.

Responses following party lines are inevitably bad news for Labor, because it has drifted further down on voting intention. The Coalition’s primary vote is now back at 50% (up one point in a week), where it was four weeks ago, and Labor’s vote is back at 30% (down one point) as well, yielding a 57%-43% 2PP result.

The survey also revealed remarkable levels of ignorance about the numbers of asylum seekers coming to Australia. 36% of voters believe that the number of asylum seekers arriving by boat has “increased a lot” in the past 12 months, and 26% say it has “increased a little”, with 20% saying numbers have stayed the same. Only 7% of voters believe the number of asylum seekers has fallen. When told that the number of asylum seekers arriving by boat has fallen by more than half this year, the proportion of people “very concerned” about asylum seekers falls from 43% to 33% and those “a little” or “not at all” concerned goes from from 30% to 39%.

On this question, too, there’s a strong level of partisanship: 54% of Liberal voters are “very concerned” about asylum seekers, although the number drops to 43% when they are told how numbers have fallen this year; 36% of Labor voters are concerned (which falls to 24%) and only 12% of Greens voters are very concerned. Greens voters are much more likely to believe numbers have “stayed the same” or “increased a little”, certainly than Liberal voters, 50% of whom believe numbers have “increased a lot”.