Credit, Collections & Insolvency News
With weeks to go until Brexit, the impact the UK’s exit will have on the economy is still unclear for many, yet recent research from Just Group found some British consumers have a sense of optimism about their finances over the next year.
Despite declining confidence in the economy and property market, the research reveals over a quarter (27%) of Brits expect their financial situation to get better over the next 12 months and a fifth (20%) of those state Brexit as the biggest influencing factor behind this improvement – totalling one in twenty Brits (5%).
Just Group communications director Stephen Lowe said “While the view on personal finances looking at the year to come is still positive for some, there’s no getting away from the gloomy consumer sentiment that has taken hold while we wait to see what will happen with Brexit and beyond.”
“It’s easy to understand why people are ‘holding their breath’ waiting to see what the Brexit deal will be, but it’s important to remember that although the immediate future looks very uncertain it shouldn’t distract us completely from the longer term. Keeping an eye on the future and doing a little bit of planning for it now will put you in a better position in the long run, no matter what the future brings.”
Other factors which have most positively influenced consumers overall levels of confidence about their financial situation are interest rates (16%), the value of the pound (15%) and house prices (14%).