Financial worries and what they mean for politics

18.5 million potential voters feel economically insecure, 35% of the electorate. The feelings of economic insecurity are caused by one or a combination of factors – worries about income, housing and childcare costs, the amount of savings and debt. People in mid-life (35-59 years old), who should feel in control of their lives, are the most likely to feel anxious about making ends meet.?

A new study conducted for JRF by election experts from the Nuffield Political Research Centre at 英国牛津大学 has revealed that people who feel economically insecure, are the people searching for political alternatives. Their support depends on which party can give them confidence in their own finances to feel secure enough to make plans for the future. ?

From Labour’s success at the General Election to October 2024, they had already lost 40% of the voters who put them in power, and their support continues to fall in opinion polls. People who felt economically insecure were twice as likely as those who felt economically secure to think that Labour is handling the economic security of households very badly.?

What does this mean for political parties?

This new research provides insight into the economic and financial concerns of today’s Britain, and critically, how this evolving picture is helping to explain the changing levels of support for major political parties.???

People want to feel confident they can look after themselves and their loved ones. A significant size of the voting public don’t feel they have this security, and this is increasingly looking like one of the big, overlooked factors of our politics. Financially insecure voters, especially those in mid-life, are looking for political alternatives; they can’t see things getting better for themselves or their children. Parties need to give people confidence in their own finances ahead of the next election.?

What would Joseph Rowntree do??

“I feel that much of current philanthropic effort is directed to remedying the more superficial manifestations of weakness or evil, while little thought or effort is directed to search out the underlying causes”.

Joseph Rowntree, 1904?

This month marked 100 years since our founder Joseph Rowntree died. As we remember the life of Rowntree and his pioneering work, we feel keenly the obligation to meet our own moment with the same spirit of radical intent and determination. The economic and social crises we face, and the privilege of our position as an independent foundation, demands nothing less of us.?

Families across the UK have seen deepening economic insecurity and rising levels of poverty and hardship as the state has retreated and public policy has been found wanting.??

We have put the concept of transition and the heart of our mission: to support and speed up the transition to a more equitable and just future, free from poverty, where people and planet can flourish. This is an ambitious mission, focused on deep and more radical change.?

Over the last few years, we have undertaken work to refine our approach to more radical system-changing work. And we are committed to it.??

Find out more about our plans to meet the challenges of deep economic and social change from our CEO Paul Kissack.?