You are here: Home - Household Bills - News -

Almost half of Britons think Brexit will leave them financially worse off

0
Written by:
03/08/2016
Almost half of UK adults think they will be financially worse off as a result of the vote to leave the European Union, according to a survey.

The poll of 2,000 people suggests 63% of Brits are anticipating a very difficult couple of years and 46% are concerned about their long-term financial health.

The increasing cost of living, rising bills and not being able to save for the future topped the list of concerns.

Only 18% expected their financial situation to improve, the study by Gocompare.com found.

Young adults aged 18 to 24 were the most pessimistic about their immediate financial future with 74% expecting the next two years to be tough and 65% worried they will be worse off over the long term.

The research suggests 40% of Brits believe the UK economy will go into recession.

However, 42% said they were keen for the Prime Minister to get on with the formal process of leaving the EU.  Just under a third (31%) would advise the PM to delay implementing the exit process in order for the UK to negotiate better deals with the EU, while 27% thought the process should be delayed in the hope the decision to leave could be reversed.

Tom Lewis, director of money, protection and utilities at Gocompare.com, said: “While it’s too early to judge the financial impact of Brexit, the decision to leave has already sent shock waves through the markets.  So understandably many people are concerned about the effect Brexit will have on their wallets and future financial security.”

There are 1 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week