Eight In Ten Brits Will Have To Cut Spending In Cost Of Living Crisis
Woman looking worried while checking electricity bill at home.
Woman looking worried while checking electricity bill at home. Electricity, finance, crisis and bills concept. Credit: Getty

Eight In Ten Brits Will Have To Cut Spending In Cost Of Living Crisis

Rachael Grealish October 14, 2022

A YouGov survey has revealed eight in ten Brits say they will have to really cut spending as the cost of living crisis goes on.

In the survey, Brits were asked a multitude of questions including how they think the government is handling the crisis, their thoughts on the state of the British economy and how they’re coping with rising prices.

Brits cut spending in cost of living crisis

According to the results, a large majority of Britons have already made cuts to spending, or expect to do so soon as more than eight in ten Britons (85%) say that they have already had to make cuts to their usual spending, or will do so soon, in response to the rising cost of living.

We can afford to take the family on holiday

This includes half (49%) who have already made cuts and expect to have to do so again, as the government struggles to contain inflation. This figure rises to 53% amongst those with a gross household income of less than £40,000.

However, almost one in ten (9%) have already made cuts but do not expect to make anymore and over a quarter (27%) haven’t made any changes to their spending yet, but expect they may have to in the near future.

And a small number of those surveyed (9%) say they haven’t made any cuts yet and don’t expect to in the future.

Thoughts on Government management

One sure thing about the survey is many Brits have become increasingly pessimistic about the government’s management of the cost of living crisis.

Eight in ten (82%) say the government managing the issue badly, including 55% who say they are doing “very badly” – this includes Conservative voters as seven in ten (70%) thought the government is managing it badly and 36% think they’re doing “very badly”.

A similar number of Brits (83%) say that the economy is in a bad state at the moment, and there is very little faith in the government to be able to turn things around.

When those surveyed were asked how they think the economy will change over the next year three quarters (73%) of Britons expect it to get worse.

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Rachael is the Senior Content Editor at Freshered. She is NCTJ qualified with an MA in journalism. Rachael has almost ten years experience as a journalist in regional, national and international press and is passionate about creating engaging content.