Politics prompts personal finance concerns

Politics prompts personal finance concerns

Recent political events - essentially June’s snap-election and uncertain Brexit negotiations - have left 63 per cent of Britons concerned for their financial future, according to research published today (24 July). 

Investec Click & Invest, a new online investment management service, recorded how over three-quarters (77 per cent) of the British public have little faith in external factors for financial security, while more than half (56 per cent) are re-evaluating their financial position.

The results of the poll of 2,000 people this month also highlighted that almost half (48 per cent) of consumers are anticipating the UK’s Brexit deals to initiate negative backlash on their personal financial situation, compared to a minor 20 per cent who predict positive results.

Despite extensive financial fears, the research also determined that 56 per cent of respondents are actively re-evaluating their financial positions (67 per cent among 23 to 25-year-olds) to avoid harsh financial impact.

Jane Warren, chief executive of Investec Click & Invest, said: “Clearly we’re facing uncertain times and for many this is cause for concern.  

"However, our research shows that it is also prompting people to take greater control of their personal situation and re-evaluate their financial position, overcoming the inertia so often associated with personal finance matters.”