Third of households ‘likely to need state financial support in coming months’

A third of people think their household is likely to need financial support from the Government in the next three months, a survey has found.

Across Britain, 33% of people agreed their household is likely to need state help, research company Kantar found.

More than two-fifths (44%) of those working believe their job is less safe than it was 12 months ago, the survey, carried out between April 16 and 20, found.

This is the highest percentage since Kantar started asking the question in August 2011, and compares with 26% of people who responded that way in early March.

Nearly a third (32%) of people surveyed in April said they are finding it harder to meet their monthly household budget than they were 12 months ago.

Confidence in the economy fell to its lowest level since this measure started in August 2011, with nearly two-thirds (65%) stating that Britain’s economy is doing worse than 12 months ago, compared with 31% in March. The previous high was 58% in December 2011.

Expectations of Government intervention in the economy are high, with 84% agreeing or strongly agreeing with the statement: “It’s important the Government helps people and business affected by coronavirus, whatever the cost”.

Half (50%) of people surveyed in April think that the economy will be worse in 12 months, compared with 32% who said this the previous month.

This was also the highest figure since tracking started in August 2011.

Six in 10 (61%) people surveyed think the Government is handling the coronavirus crisis very or fairly well, with three in 10 (30%) believing it is handling it very or fairly poorly.

Nearly a fifth (17%) in the survey think Brexit will make it easier for the UK Government to handle outbreaks such as coronavirus in the future.

Nearly three in 10 (27%) think it will be more difficult.

But the majority (41%) do not think that Brexit will make it easier or more difficult for the UK Government to handle outbreaks such as coronavirus in the future.

UK chief executive of Kantar’s public division, Craig Watkins said the findings suggest “there is a growing majority who believe the Government is handling the crisis well and a strong public belief that supporting people and business during this time should be a priority, no matter the cost”.

He continued: “However, increasing numbers are reporting concerns over their ability to meet household budget, (with) one in three stating their household would require financial support in the coming months. Understanding the levels of support needed is crucial for Government policy to be able to respond effectively.

“This study, reflecting our research in the G7 nations, shows that personal economic impacts are deepening.”

More than 1,100 people across Britain were surveyed in April.