Rational Disaffection? The Economic Origins of Minor‐Party Voting in Australia

Support for minor parties and independents in Australia doubled from 15% in 2007 to 30% in 2022, ending decades of relative electoral stability. Using nearly 30 years of monthly consumer survey data, we examine whether this realignment is rooted in economic disaffection. Since the Global Financial Crisis (GFC), growth in real GDP and GDP per capita has slowed markedly, while consumer sentiment—reflecting individuals' retrospective and prospective evaluations of their personal finances and the broader economy—has fallen to record lows. This increase in economic pessimism is evident across major demographic groups, suggesting that disaffection is broad‐based rather than confined to particular constituencies. Voters with negative economic expectations are significantly more likely to support minor parties or independents, and this association has strengthened since the mid‐2010s. The Greens have gained disproportionate support from younger voters, while other minor parties and independents have attracted more support from older cohorts. These findings show that declining economic prosperity—both real and perceived—has played an important role in Australia's post‐GFC shift away from the two major parties. This is consistent with the view that voters are responding rationally to unmet policy demands and long‐standing dissatisfaction with government performance.