Majority of Britons pessimistic about future of UK economy as 70% expect Budget tax hike, new polling shows
A new Ipsos poll found that two-thirds of Britons expect the UK economy to worsen over the next year, while 70 per cent think the government is likely to raise their taxes. The findings point to widespread economic anxiety as Chancellor John Healey prepares his first Budget, with pressure to fund defence commitments and the government’s cost-of-living policies.
The poll found that 14 per cent expect the economy to improve and 17 per cent think personal tax rises are unlikely. Some 67 per cent expect government borrowing and national debt to increase, while 51 per cent anticipate higher public-service spending. Healey must also explain how the government will fund £5bn in defence spending announced in May, alongside policies including changes to Carers’ Allowance.
In short
- Two-thirds expect the UK economy to worsen over the next year.
- 70 per cent think their taxes are likely to rise.
- Healey faces pressure to fund defence and cost-of-living pledges.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Those expecting tax rises may see them as a necessary way to fund defence commitments and public services while limiting further borrowing. With the economy under pressure, raising revenue could also help sustain cost-of-living support and reassure the public that spending plans have a credible funding base.
The case against
Those concerned about tax rises may argue that households and businesses already face financial strain, and higher taxes could weaken spending, investment and confidence when growth is fragile. They may favour tighter prioritisation of government commitments or other ways to raise productivity, while questioning whether new revenue would deliver enough benefit to justify the added burden.
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