CCR Magazine

Subscribe Here
You are here  :Home arrow News arrow Majority of British adults’ personal finance confidence unaffected by Brexit vote – R3
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Majority of British adults’ personal finance confidence unaffected by Brexit vote – R3 PDF Print E-mail
Tuesday, 15 November 2016
Three-fifths (59%) of British adults say they are neither more pessimistic nor more optimistic about their personal finances following the UK’s vote to leave the EU, according to new research by insolvency and restructuring trade body R3. 

However, the R3/ComRes survey of over 2,000 British adults found that one-in-four (25%) say they are more pessimistic since the referendum, compared to 17% that are more optimistic.

Andrew Tate, president of R3, says: "Despite the commotion and commentary around the outcome of the vote, for most individuals the decision to leave the EU hasn’t affected how they view their personal finances. While we wait to see what form ‘Brexit’ will take, the day-to-day cost of living will likely be weighing more heavily on people’s minds."

"However, the pre-referendum warnings about the consequences of ‘Brexit’ look like they are still playing on the minds of a sizeable proportion of the population. By contrast, optimism about the possibilities of Brexit has left fewer people convinced."

Younger adults (18-24 year olds) are twice as likely (40%) to be more pessimistic since the vote to leave compared to 55-64 year olds (20%).

Andrew Tate continues: "It was reported that the younger generation were the least likely to vote in favour of the UK leaving the EU so it’s perhaps not surprising that they are most concerned about the impact."

Those who are extremely or very worried about their debt are more likely to be concerned about their finances following the vote to leave the EU (47%) than those who are not at all worried (18%).

Andrew Tate adds: "The general sense of uncertainty that the decision to leave has brought will be particularly unwelcome for those that were already concerned about their finances. While it’s easier than ever to borrow cheaply, there isn’t the same sense of stability about what will happen down the line to the UK economy which makes planning future repayment more difficult."
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197