UK millionaires lose faith in Osborne

Press TV
13/8/12
A majority of millionaires in Britain have lost confidence in George Osborne’s economic policies for the first time, while Britain continues to sink deeper into its seemingly unrecoverable recession.

An annual survey saw individuals who are financially stable with more than £1m losing confidence in the UK government’s management of the economy, which has dropped vastly over the past year.

In the summer of 2011, 55 percent of people were satisfied with the government’s performance, but this has now declined to just 43 percent. Only a quarter now believe that the economy may improve over the next 12 months. 

Out of 10 people, seven said they did not believe enough was being done by the UK government to encourage productions of businesses, while three in 10 people witnessed their financial situations worsening in the next year.

The results come as a survey that involved nearly 1,000 millionaires was carried out twice yearly by CoreDate Research for the UK investment company Skandia.

Discontent about economic policies appears to be encouraging millionaires to consider leaving Britain and just fewer than 45 percent say they would possibly move abroad.

Factors encouraging people to leave the UK included the standard of living, the cost of living and tax rates at 10 percent, and the unpopular British weather.