Most Brits expect the Chancellor’s November Budget to hit their household finances, new research shows
New Release
A new nationally representative poll of 2,000 UK adults by consumer research experts The Harris Poll UK reveals that nearly two thirds of the public expect the Chancellor’s upcoming November Budget to have a negative impact on their personal or household finances, highlighting a public deeply concerned about rising prices and unconvinced that government decisions are keeping pace with their financial reality. The findings come ahead of the Government’s Autumn Statement and show deep scepticism across all age groups, particularly among older voters.
Two thirds expect the Autumn Statement to harm their finances
Across the population, 61% of people expect the Budget to negatively affect their personal finances. Of these, 36% expect a small negative impact and 25% expect a significant negative impact. Only 26% expect a positive impact and 13% believe it will have no impact at all.
Older generations are significantly more worried about the Budget’s impact. Concern rises steadily with age, reaching 88% among those aged 65+, compared with just 27% of 18–24-year-olds. This reflects growing financial anxiety among older groups, who are often more exposed to rising living costs. Here is the full age breakdown:
88% — age 65+
78% — age 55–64
74% — age 45–54
50% — age 35–44
32% — age 25–34
27% — age 18–24
Public priorities for the Budget focus on cost-of-living and public services
When asked what the main priority for new investment or protection should be in the Autumn Statement, the public’s focus was clear. Measures to tackle the ‘cost-of-living’ were chosen by 27%, followed by the ‘NHS’ at 19% and ‘immigration and asylum’ at 16%.
‘Utilities’ such as water, gas and electricity supply were chosen by 9% and ‘housing’ by 5%. The ‘environment and climate change’, ‘social care and disability support’, ‘energy’ and ‘crime and policing’ each stood at 4%.
‘Education and skills training’ and ‘defence and national security’ each received 3%. ‘Infrastructure and transport’ received 1% and 1% selected ‘other’. The data highlights the publics clear signal for a practical, immediate relief from everyday cost pressures rather than focus on long-term structural reforms.
Most feel government policies do not align with their household needs
The survey also finds widespread dissatisfaction with the direction of government policy. Over half of respondents (52%) say recent decisions do not reflect their personal or household’s needs, including 22% who slightly disagree and 30% who strongly disagree.
In contrast, only 26% feel policy does align with their needs (18% slightly agreeing and 8% strongly agreeing). Together, these results show that many households feel government decision making is out of step with the financial realities facing many households.
Almost all households have been affected by rising prices
The overwhelming majority of people report that their household finances have been affected by rising prices. A total of 95% say they have been impacted. Of this group, 36% say they have been extremely impacted, and 59% say they have been slightly impacted. The near-universal impact underscores how deeply cost pressures have cut across income levels, regions and age groups.
Public optimism remains mixed despite financial pressures
Despite the financial strain highlighted elsewhere in the findings, views on personal financial optimism remain divided. Just over half (52%) feel optimistic about their personal and household financial circumstances. This includes 18% who feel very optimistic and 34% who feel somewhat optimistic. Meanwhile, 27% describe themselves as pessimistic (19% somewhat pessimistic and 8% very pessimistic), with the remaining respondents in neither category. This cautious optimism suggests that while some households see reasons for hope, many remain wary of further financial shocks.
Sarah Beams, Managing Director, The Harris Poll UK commented on the findings: “Public expectations for the November Budget are low because many households feel that recent decisions have not reflected the financial reality they are living. With nearly every household affected by rising prices and older consumers in particular expecting further harm, the gap between leadership optimism and consumer experience is widening.
If there is one message for decision makers, it’s this: people want practical help on the issues they feel most immediately — from the cost-of-living to public services. Brands and institutions that understand and act on these pressures will earn long-term trust; those that overlook them risk losing relevance.”
*This is the first in a three-part series of polls on consumer sentiment around the Chancellor’s November Budget. Watch out for two additional press releases summarising these findings when we conduct further assessments, after the Budget has been released.
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For press information please contact ukmedia@harrispoll.com.
About: The Harris Poll UK, a Stagwell company, is a leading customer experience and consumer insights company that helps some of the UK’s best-known companies understand what matters most to their customers.
The Harris Poll UK combines deep sector expertise with advanced digital research tools, behavioural science and agile research methods to deliver powerful, real-time insights. Its flexible service model enables companies to respond quickly to shifting customer expectations, drawing on over one million survey responses and 40,000 emotion data points each month.