35% of voters ‘feel financially insecure’

Many people are willing to vote for a different political party because of their current financial situation.

According to the Nuffield Politics Research Centre and the Joseph Rowntree Foundation, more than one in three eligible voters (35%) feel economically insecure.

In other words, more than 18m people are worrying about issues such as:

• low levels of disposable income
• the amount they have in savings
• housing costs
• childcare costs
• debt

As a result, many are losing faith in the government and thinking of voting for a different party at the next election.

Financially insecure voters ‘can’t see things getting better’

Research showed that 41% of people who feel economically insecure believe the government is handling the economic security of households very badly.

By contrast, just 20% of people who feel economically secure share this view.

The study also found that between June and October 2024, Labour lost votes at a greater rate among those who feel economically insecure (46%) than those in a stronger financial position (31%).

Professor Jane Green, one of the researchers behind the study, said: “Financially insecure voters are the ones looking for political alternatives because they can’t see things getting better for themselves or their children.

“A party that delivers on economic security - supporting people by bringing down costs and giving people a chance to restock their savings safety net - can feel much more secure in their electoral prospects.”

Alfie Stirling, director of policy and insight at the Joseph Rowntree Foundation, added that a “significant” number of voters don’t feel they have the “basic means and security to look after themselves and their loved ones”.

“This is increasingly looking like one of the big, overlooked factors of our politics,” he said.

“The credibility of all political parties in tackling poverty and financial insecurity looks set to be one of the crucial dividing lines of the parliament.”

People aged 35-59 ‘most anxious about making ends meet’

Financial insecurity and a lack of faith in the government was found to be particularly common among 35 to 59-year-olds.

According to the study, about nine million people in this age group are considered economically insecure and worried about making ends meet.

That’s equivalent to nearly one in five eligible voters in the UK.

At the same time, 35 to 59-year-olds were found to be more likely to consider switching their vote to a different party.

Professor Geoffrey Evans, who also worked on the study, said: “In our low growth and economically uncertain society, high anxiety mid-lifers are experiencing the worst of it. 

“There is an opportunity available to any party that can soothe the financial fears of people in mid-life as they are more politically available than the young and the old.”