UK confidence sinks in face of the Budget
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.
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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?
@ 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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RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
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RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
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RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
- Tamsin
YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @falseecon #falseeconomy
- 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
- Caer
RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …
- Virginia Moffatt
RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
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RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
- David Powell
RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …
- Liz Todd
UK confidence sinks in face of Osborne’s budget | Liberal Conspiracy http://t.co/ddcGYvR via @libcon
- Paul Wood
RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
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RT @libcon: British confidence sinks in face of Osborne's budget http://bit.ly/i36rJf
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RT @tamsinchan: YouGov poll: British confidence sinks in face of Osborne's budget | @sunny_hundal @libcon http://bit.ly/i36rJf > @fal …
- conspiracy theo
UK confidence sinks in face of the Budget | Liberal Conspiracy http://bit.ly/g41qzj
- 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
- 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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UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets
- 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
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RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets
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RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets
- 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 [...]
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RT @UNISONEastMids: UK confidence sinks in face of the Budget http://is.gd/FkXMZf @unisontweets
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