Political change leaves Brits craving financial certainty
Internet searches about how the UK’s political situation affects personal finances have soared since Boris Johnson was confirmed as the UK’s new Prime Minister on 23 July.
Octopus Wealth analysed Google Trends data to see how people’s search behaviour changed between Johnson’s candidacy being announced on 16 May, and the confirmation of the new Conservative leader this week.
It found that searches relating to Johnson and tax increased by 4,750 per cent, searches seeking information on Johnson and pensions leapt 190 per cent, and searches for EU investments grew by 137 per cent. However, searches for UK pensions reduced by 36 per cent.
Richard Wazacz, CEO of Octopus Wealth, said: “When there’s an extended period of political uncertainty, like we’ve had over the last three years, it’s only natural that people will want clarity on how their personal finances may be affected.
“Government policy can have a huge impact on household wealth and financial well-being, and it’s something individuals often have little direct control over. But what we can all do is seek trustworthy and transparent advice to provide reassurance that we’re on track for a secure financial future for us and our loved ones.
“There’s little point in fretting over what impact the government may have on our finances, be that good or bad. Instead, speak to qualified and impartial professionals who can put together a tailored plan that will ensure your money is working as hard as it can, regardless of what’s going on around you.”
Johnson’s leadership campaign saw him pledge to raise the higher tax threshold from £50,000 to £80,000, fix the pension tax crisis, and reform stamp duty.