Britons least optimistic about economy since 2008 financial crash
Britons are the least optimistic they have been about the economy since 2008’s financial crash, a new survey by pollster Ipsos Mori has found.
The new poll, which was conducted between 13 and 16 March, shows that 69 per cent of people think that the economy will get worse in the next 12 months.
In recent weeks the UK’s economy has been battered by the coronavirus outbreak, which has hit the hospitality, retail, and transport sectors especially hard.
The new figure is sharp increase on February’s percentage, when 42 per cent of people were pessimistic about the future of the economy.
Just 15 per cent of people think that it will get better, giving an economic confidence score of -54.
At the height of 2008’s financial crisis, Ipsos recorded that three-quarters of people expected the economy to worsen.
However, the poll was conducted before chancellor Rishi Sunak unveiled a £350bn package of measures to support the UK’s businesses through the coronavirus crisis.
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About two-thirds of people had said that the original £30bn of measures announced in last week’s Budget would be helpful in tackling the epidemic.
Despite the economic pessimism, about half – 49 per cent – of people think that the government is handling the outbreak well, the poll found.
Boris Johnson’s performance rates similarly, at 47 per cent, but 38 per cent do not think the Prime Minister is doing a good job.
However, people were split on whether the government was doing enough to combat the spread of the virus, with 50 per cent saying that it had not yet done enough.
There was more support for the idea of shutting sporting events, with 73 per cent in favour of cancelling the rest of the UK football season and 71 per cent in favour of cancelling the Wimbledon tennis championship.
Gideon Skinner, head of political research at Ipsos, said: “Britons’ worries about the economic impact of the coronavirus are laid clear with pessimism about the economy at its worst in our trends since the 2008 crash, while women are particularly concerned.
“However at the time of asking around half the public felt the government was handling the crisis well, although half were wanting more to be done, and high levels of support for the Budget’s financial measures suggests that they are looking for the government to take further action to minimise economic damage and restore confidence.”