UK confidence sinks in face of the Budget


by Sunny Hundal    
March 27, 2011 at 7:23 pm

41% of voters thought that Osborne’s Budget will be good bad for them, according to YouGov polling for the Sunday Times.

25% thought it was good for them.

More worryingly for the government, only 15% said it made them more confident about the future. A massive 43% said it made them less confident.

Those figures are unlikely to sustain consumer confidence or spending – the main driver of the economy.

It further found that only 10% of people expected their financial position to get better over the next 12 months. This is a huge fall from last year.

Furthermore:
- 59% think unemployment will increase in the next year or two.

- 57% think inflation won’t come down.

- 59% think poverty will increase.

- Only 27% think the government’s measures will make the economy grow faster in the long run.

UK Polling Report adds:

Amongst Conservative supporters, 70% think cuts are right or too small, 23% think they are right but too fast, only 3% think they are too large. Amongst Labour supporters only 3% think they are right or too small, 32% think they are right but too fast, 30% would prefer smaller cuts and more tax rises, 27% don’t think either large cuts or tax rises are necessary.

The full tables are here


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About the author
Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments


Last Wednesday’s budget was the 2nd longest economic suicide note in history.

The longest was the “emergency” budget last June.

Falling GDP, rising unemployment, rising borrowing, stubborn deficits.

The Tories are well and truly back in power.

What do you expect with a deficit and national debt at such levels? The UK economic picture is going to be grim for many years. This is unavoidable.

The FTSE didn’t move, the pound barely budged, most of the damage was done in last year’s emergency budget, this budget is more a distraction IMHO.

More worryingly for the government, only 15% said it made them more confident about the future. A massive 43% said it made them less confident.

A budget that was explicit there were still bad times ahead, and 15% of the population felt more confident about the future? I quite liked the budget, but I wouldn’t say I was made to feel more confident about the future by it.

Anyone else worry that there is a very large chunk of respondents in opinion polls who are selecting answers at random?

5. Chaise Guevara

@ 4 Watchman

Well, if you’re invited to take part in a survey, and, as a person not trained in economics, find yourself faced with questions like “do you think inflation will rise in the next 12 month?”, you’re likely to put your best guess. Which is worth not a lot.

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Reactions: Twitter, blogs
  1. 404

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  2. Jonathan Leary

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  3. Dom Till

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  4. theimp

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  5. Paul Krishnamurty

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  6. Elly M

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  7. Tamsin

    YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @falseecon #falseeconomy

  8. sunny hundal

    Only 15% of ppl said Budget made them confident about the future. Doubt rest are going to start spending soon http://bit.ly/i36rJf

  9. Caer

    RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …

  10. Virginia Moffatt

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  11. Matt Jeffs

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  12. David Powell

    RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …

  13. Liz Todd

    UK confidence sinks in face of Osborne’s budget | Liberal Conspiracy http://t.co/ddcGYvR via @libcon

  14. Paul Wood

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  15. Spir.Sotiropoulou

    RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf

  16. neilrfoster

    RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …

  17. conspiracy theo

    UK confidence sinks in face of the Budget | Liberal Conspiracy http://bit.ly/g41qzj

  18. Noxi

    RT @sunny_hundal Only 15% of ppl said Budget made them confident about future. Doubt rest r going 2start spending soon http://bit.ly/i36rJf

  19. blogs of the world

    Only 41% of voters thought that Osborne's Budget will be good for them, according to YouGo… http://reduce.li/zmrfoz #budget

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    [...] Sinks [...]

  21. UNISON East Midlands

    UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets

  22. John O'Shea

    RT @libcon: UK confidence sinks in face of Budget http://bit.ly/i36rJf < A budget for growth that cuts growth forecasts & hammers confidence

  23. UNISON - the union

    RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets

  24. Walsall Free Press

    RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets

  25. Why Ed Miliband was right to attend Saturday’s TUC march | Liberal Conspiracy

    [...] are consistently being cut . Household debt is expected to rise massively. Expectations of the future are low. There’s no clue how 2 million jobs will be created. And the Eurozone is still a big [...]

  26. Staffordshire UNISON

    RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets





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