Half of the British public expect the economy to get worse, according to Opinium’s latest polling. On the contrary, only 14% expect it to improve.
The cost of living remains a pressing concern, even as inflation calms compared to previous years. Nearly four in five respondents feel living costs have risen over the past year, with 43% who think it has increased significantly.
Looking ahead, the public remain pessimistic about the cost of living, with utility bills inciting the most concern – as almost seven-in-ten (68%) believe they will get worse.
Aside from utilities, two-thirds (66%) feel that grocery prices will worsen, and three-in-five (61%) feel that housing costs are set to increase.
Read more related news:
Labour has a big problem with voters as Farage tops the polls
NHS waiting lists, the issue of least concern among those surveyed, still see half (50%) predicting deterioration in 2025 compared to 2024. Meanwhile, Labour faces scepticism over its promise to put more money in working people’s pockets, with almost half (46%) doubting the party’s ability to deliver on this mission.
Labour
In tandem with wider concerns, the polls show Labour losing ground on economic indicators, although the Conservatives have yet to drive a significant swing in their favour.
While the Conservatives now have a small lead on setting tax levels (Con +1), they are still trailing behind the third (34%) who trust neither of the major parties on this issue. Labour retains its advantage on improving public services (Lab +12).
Aside from the economy, the Waspi women announcement was the single most noticed domestic political news story this week. Almost half (48%) think that the government’s decision was wrong – and even 46% of 2024 Labour voters agree.
Despite this, Keir Starmer has seen his net approval rating remain steady at -32%, while Kemi Badenoch has experienced a 6-point drop to -12%, with the proportion of those disapproving of her performance rising to 32%.
Out of the two, 25% believe Keir Starmer would make the best prime minister, compared to only 16% for Kemi Badenoch, while 41% think neither would be the best choice.
Adam Drummond, head of political and social research at Opinium, said, “2024 closes largely as it began, with an unpopular government buffeted by economic headwinds, popular goals but a lack of public faith that they can achieve them.
The main advantage Keir Starmer has is time, he has a substantial parliamentary majority and four and a half years until the next general election.
“But whatever benefit of the doubt Labour had at such an awful inheritance has long since expired and the fact that the government are now at parity on running the economy with a party that voters reduced to 121 MPs in July will be a cause for concern.”
