Posted: Mon Feb 07, 2011 8:17 am Post subject: Survey Shows Increase in Worries Over Finances and Jobs As C
Survey Shows Increase in Worries Over Finances and Jobs As Cutbacks Begin
Released on: February 7, 2011, 5:50 am
Author: Simon Terry
Industry: Internet & Online
Findings of new survey comprising of 2,000 people reveal concerns as increasing over finances, the economy and job security as Government Cutbacks start
• Government Cutbacks worry 84% of participants
• 69% reveal they think the extent of the cuts are not being truthfully shared by the Government
• Concerned about the security of their jobs are 56%
• Expecting to be up to £300 worse off every month due to cuts are 77%
• Thinking the cuts by the Government will harm the economy are 50%
07 February 2011 – The new survey saw 2,000 people take part, and showed that due to local authorities getting rid of thousands of employees, inflation going up to 3.7% and unemployment rates in the UK going up to 2.5 million, many are getting rather anxious about the affects of the Government Cutbacks.
DiscountVouchers.co.uk is one of the nation’s top money saving website range, and were behind the national survey. They found that 84% were concerned about the cutbacks being made by the Government; whilst 69% did not really believe the Government is being honest about the depth of the cuts.
Simon Terry, Managing Director of DiscountVouchers.co.uk remarked, “There is a real sense of concern surrounding the Government cutbacks. We have seen that county councils are axing thousands of employees, and with the increase in inflation it is causing many to feel insecure and worried about the safety of their jobs and the state of their finances.”
The new national survey also found that each month 77% of participants are now expecting to be worse of by up to £300. 11% said they believe their figure will be up to £1000 and only 10% said they did not think their financial situation would be affected by the cutbacks.
Also, 50% said they were concerned about how the cuts will impact the security of their jobs. 63% said they worked in the public sector, or were aware of someone else who did, and were concerned about the future of their on-going position.
With many starting to be increasingly worried about their finances and jobs, the survey found many were deciding to delay buying expensive items and even put off major life changing decisions. For example: 40% are now postponing home improvement; 38% will now delay buying a new car or going on holiday; 22% said they will now delay moving house; 17% will not change their jobs at this time; 7% say they are now putting off having a baby; and 7% have decided to hold off on their wedding plans.
“With the unknown consequences the cutbacks will have it is making many people in the UK very concerned. Most of the people that we talked to feel the cuts will go much further than the Government has actually revealed, thus many are planning for tough times.” Simon adds.
The survey asked respondents where they would feel more content with cuts being made: 68% said the benefit system would be better; 41% said local councils; 21% stated the armed forces; 14% suggested the public services sector such as waste management; 10% stated the NHS; 9% suggested education; and 8% said policing. Respondents also suggested other areas should experience cut backs such as bonuses of bankers and quangos, and salaries and expenses of MPs.
Additionally, 50% stated they believe the Government Cutbacks will have a negative effect on the economy, whilst 46% said they felt it was needed for the economy; and 37% said they did not think they were vital.
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