Banks also lose a lot of confidence in times of massive inflation, as shown in the current APA/OGM survey. An important reason for this is probably the way interest rates are handled. But it’s not just a loss for the financial institutions – the federal government is also losing more and more popular support – it is even less relied on than in the previous survey.
Overall, confidence in this country’s institutions remains high. The Office of the Ombudsman, the police, the Chamber of Labor and the armed forces enjoy the highest confidence. The trust index works by asking (in this case 1028 people) whether you trust an institution or not. The balance of this gives a value of plus 58 for the Office of the Ombudsman and plus 56 for the police. This is followed in the confidence ranking by the Chamber of Labor (54), which recorded an increase of four points compared to the previous year.
In fourth to tenth place are the federal armed forces (51), the Constitutional Court (40), the universities (39), the Court of Auditors (36), schools (31), tax offices and health insurers ( both 29). The federal president (28) lost four points compared to last year and is now in 11th place.
Social media is at absolute rock bottom
The banks recorded the largest loss of confidence with minus 9 points, which is probably due to rising interest rates on loans, their restrictive lending and the insufficient passing on of interest profits to customers. While state governments (2) are easily gaining trust, political institutions at local and federal levels are losing ground.
Municipal councils (17) and the federal government each lost five points, with the government finishing in penultimate place with a balance of -39. Austrians have even less confidence in social media than in the government, with a balance of -58.
Once again more confidence for the editors
According to the OGM boss, the fact that social media have been specifically investigated this time – separately from the editorial media – also explains the significant increase in the traditionally low reputation of the media. Editorial media recorded the biggest increase in the survey with an increase of 16 confidence points.
The balance is still negative at -15, but the media is now ahead of the EU (-17), the banks (-24), the church (-30) and the insurance companies (-39) in the confidence index. This can be explained by the fact that social media “no longer drags down the media with its bad image”.
Justice and Parliament and trade unions in the plus
Overall, contrary to the recently published confidence index for politicians, the basic trend among institutions remains positive, as OGM boss Wolfgang Bachmayer explained. Confidence has increased in a clear majority of the institutions surveyed, but in only ten there has been a clear loss of confidence. The judiciary and parliament recorded an increase in confidence (plus six each).
The trade union federation also recorded a clear plus of 5 points – probably against the background of demands for wage increases and inflation compensation. At the same time, the employers’ organizations, the Chamber of Commerce and the Association of Industrialists each lose 4 points of confidence.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
