Majority of Brits want a better-balanced economy, research shows

October 2014

Majority of Brits want a better-balanced economy, research shows: Ahead of the general election campaigns, new figures have revealed voters are desperate for a rebalanced economy as well as a resurgence of British industry to be in the limelight.

New EEF figures show 63% of shoppers hope to see Britain’s economy better-balanced, while three fifths (59%) want to see Britain manufacture more, export more (64%), and compete more efficiently with other countries (58%).

Furthermore, eight in 10 (79%) believe guarding and building upon the economic recovery are not only important but pivotal to election campaigns. Moreover, 85% responding to a survey by the EEF want the promotion of a stronger UK manufacturing base by the next Government, with almost two thirds (62%) stating this would lead to more economic security for Britain. Subsequently, politicians are being called upon by the EEF to promote a strong, rebalanced economy in their election campaigns.

South West region Director at EEF, Phil Brownsord, said “The message to parties and political leaders is loud and clear: a strong, rebalanced economy has to be the long-term end goal and at the heart of your election offering. Industry and voters are singing from the same hymn sheet. We want a robust, stable and resilient economy with a clear focus on balanced growth and this is a message party leaders must not fail to take into the election and beyond.”

The report by the EEF demonstrated 63% of consumers want to witness a better-balanced economy enjoyed by Britain, with sustainable growth and a growing economy across different sectors.

However, in parallel to these findings, two thirds (68%) of people believe that if economic and business policies currently are working well, they shouldn’t be tampered with.

Still, 85% of consumers want the promotion of a stronger UK manufacturing base by the next government, trusting there will be more jobs as a consequence (79%), as well as economic growth (64%) and prosperity (56%). Additionally, 62% of people believe more economic security for Britain will result from a stronger manufacturing sector.

Thus the timing of the next election brings concerns over its impact on Britain’s economic bounce back; 72% of consumers say the election comes at a critical point while 77% believe the election’s policy outcomes could affect the upturn.