UK Public Pessimistic About Prospects for The Economy

As the Chancellor prepares to deliver his Spring Statement this week against a backdrop of a cost of living crisis, Ipsos Mori has published its latest political monitor for March.  

What is clear from it is how pessimistic the UK now is about the state of the economy.

76% believe the economy will get worse over the next 12 months (up 20 points from January). Ipsos Mori notes that: “This matches the worst ever levels in 44 years of tracking (in 2008 and 1980).”

When it comes to headline voting intentions, Labour are now on 39% (down 1 point from January) with the Conservatives on 35% (up 4 points).

When it comes to satisfaction with the main party leaders, Boris Johnson now has a net rating of -28, with Keir Starmer on -10. The Government as a whole has a net rating of -28.

In regards to events in Ukraine, 46% of respondents say they are satisfied with the way the UK Government is handling the Russian invasion of the country, with 38% dissatisfied.

To put this in some context, Ipsos Mori noted: “This is slightly better than how the government were deemed to be handling the crisis in Libya in March 2011 (42% satisfied / 42% dissatisfied). But 64% were satisfied with how the government were handling the situation in the Gulf in January 1991 and Mrs Thatcher’s government hit highs of 84% satisfied for its handling of the Falklands war in May and June 1982 (although 60% were satisfied when the war began in April 1982).”

At YouGov, its latest polling puts Labour on 39%, with the Conservatives on 33%.  

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