Of more than 700 respondents to an online survey, 41% said they were more optimistic about the outlook for the UK than three months ago. When the CISI last ran the survey in spring 2014, the proportion of those who considered that the country’s prospects were brighter was 60%.
Key concerns among contributors to the survey related to the health of the global economy, uncertainty about the UK’s membership of the EU and the result of the forthcoming general election.
Alarm was also voiced over the country’s debt level. One contributor said: “Sooner or later the markets will realise the parlous state of the Government`s annual deficit and overall debt situation. When, not if, this starts the Government will be forced to take emergency measures, probably including interest rate increases, substantial cuts to welfare and tax rises.”
On a brighter note, another commentator said: “Unemployment still falling, wage growth starting to filter through, cheaper oil all point to better times.”
The Institute has run a twice-yearly poll since spring 2012 to gauge opinion about the state of the economy. The confidence level expressed in each survey is shown in the chart above.
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