The decisions taken under the incumbent Labour government are seen as the biggest factor behind Britain’s economic woes, polling has found.
The new research, conducted by Ipsos, points to widespread pessimism in the country about Britain’s economic prospects and the cost-of-living.
Almost half of Britons (47 per cent) believe the UK is currently in recession — although this is less than in June 2023, when six in ten (61 per cent) thought that we were experiencing a recession.
However, when asked about the future, three in five Britons (61 per cent) think a recession is likely within the next year — that figure rises to two-thirds (66 per cent) among those aged 55-75.
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73 per cent of Britons describe the current state of the economy as “poor”, versus just 22 per cent who view it as “good” — a net score of -51.
This pessimism is reinforced by three in five (62 per cent) saying they expect the economy to remain in a poor state a year from now (April 2026). Only 28 per cent anticipate a positive economic scenario.
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Among those who view the economy negatively, the decisions taken by prime minister Keir Starmer and chancellor Rachel Reeves are seen as the biggest contributing factor (56 per cent).
That factor is followed by the impact of the Covid-19 pandemic (48 per cent) and the Russian invasion of Ukraine (44 per cent).
The Conservative Party‘s past economic policies and the state of the global economy are also cited by a substantial proportion (both 43 per cent). Almost as many, 41 per cent, blame US president Donald Trump.
Conversely, those who view the economy positively attribute it mainly to the productivity of British workers (39 per cent), decisions made by the Bank of England, and decisions made by the current Labour government (both 34 per cent).
Meanwhile, around three in five Britons (62 per cent), think the Labour government is doing a bad job at reducing the cost of living. Around half, 53 per cent, express dissatisfaction with the government’s handling of the economy.
Commenting on the data, Gideon Skinner, senior director of UK politics at Ipsos said: “Our latest economic data shows that economic pessimism in Britain remains entrenched and widespread.
“While younger adults show some optimism for the future, the overall public sentiment remains bleak, with a majority expecting the economy to remain in a poor state.
“With over half of those who think the economy is in a poor state blaming Labour as a key factor behind the country’s economic woes, the government needs to demonstrate tangible improvements — particularly on the cost of living – to address these concerns and build trust.”
Ipsos interviewed a representative sample of 1,090 online British adults aged 18-75 across Great Britain between the 11th-14th April 2025.
Josh Self is Editor of Politics.co.uk, follow him on Bluesky here.
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