"Around two-thirds of respondents believe Britain is heading in the wrong direction, with many describing living standards as stagnant or worsening in real terms."
"A recurring theme is the perception that wages are not keeping pace with rising costs, with one respondent asking: 'Why is everything getting more expensive when my pay isn't going up?'"
"When asked how to improve growth, most favoured reducing energy bills, cutting taxes and easing business regulation, though support varied depending on how directly benefits to households were made clear."
"Around a third of respondents said they did not know what GDP growth actually means, and many believed large companies or the government would benefit more than ordinary households."
A survey by the Institute of Economic Affairs reveals that 87% of Britons support prioritizing economic growth, yet many doubt personal benefits. Two-thirds believe the economy is heading in the wrong direction, citing stagnant wages and rising costs. Respondents identify high energy costs, taxation, and regulation as barriers to growth. While most favor reducing energy bills and taxes to improve growth, understanding of economic growth is limited, with many unaware of GDP's meaning and misperceptions about the UK's wealth compared to other nations.
Read at London Business News | Londonlovesbusiness.com
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