Poll shows support for stimulus

Most people around the world support significantly increasing government spending to counter the economic crisis, according to…

Most people around the world support significantly increasing government spending to counter the economic crisis, according to a 20-nation opinion poll today.

The findings will bring solace to political leaders who have backed multi-billion-dollar stimulus programmes to try to lift their economies out of recession.

G20 finance leaders agreed this month they would not remove emergency stimulus until the recovery was well entrenched.

The survey of more than 22,000 people in 20 countries for the BBC World Service found that, on average, 60 per cent favoured "significantly increasing government spending to stimulate the economy."

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Support for government stimulus of the economy was highest in Nigeria (87 per cent support), Egypt (83 per cent), and Russia (81 per cent). Support was much lower in France (39 per cent) and Germany (42 per cent).

In Britain, 60 per cent favoured significantly increasing government spending to stimulate the economy.

Americans were divided on the question, with 48 per cent in favour and 48 per cent against.

"People around the world are looking for a dynamic approach to the economic crisis," said Steven Kull, director of the Program on International Policy Attitudes at the University of Maryland in the United States, which conducted the survey with Canadian polling firm GlobeScan.

The poll found that support was especially strong for investments in renewable energy and green technology (72 per cent) and for giving financial support to major industries and companies in trouble (62 per cent).

However, only a slight majority (51 per cent) supported giving financial support to banks in trouble.

In the United States, majorities opposed giving financial support to troubled banks (63 per cent against) or industries (55 per cent against).

Two-thirds of those polled wanted to see an increase in government regulation and oversight of their economies.

Just under half supported giving international institutions more power to regulate the global economy.

The US government's efforts to address the crisis, which have included far-reaching measures to stimulate the US economy, were relatively well received around the world.

Nearly half (46 per cent) of all respondents said they were satisfied with what the United States has been doing, compared with 39 per cent who were dissatisfied.

By contrast, 44 per cent on average were satisfied with their own government's response.

Satisfaction with their own government's response ranged from 68 per cent in Australia, 63 per cent in Egypt and 59 per cent in Brazil to 27 per cent in France, 18 per cent in Japan and just nine per cent in Mexico.

Americans were evenly split between those happy and those unhappy with their government's response.

"It is clear that citizens in many countries are still not seeing the kind of economic leadership they think is needed from their national government," GlobeScan chairman Doug Miller said.

The poll found low public confidence in executives of major banks -- an average of just 32 per cent were satisfied with what they were doing to address the crisis.

Many people are angry over high rewards enjoyed by bankers, blaming bonuses for excessive risk-taking that contributed to last year's market crisis.

In total, 22,158 people in Australia, Brazil, Canada, Chile, China, Egypt, France, Germany, India, Indonesia, Japan, Kenya, Mexico, Nigeria, Pakistan, the Philippines, Russia, Turkey, Britain and the United States were polled between June 19th and August 17th.

Reuters