Savers feel confident about finances says new research

Ahead of tomorrow’s Autumn Statement, new research from investment services provider Willis Owen has found that over half of savers feel confident about the outlook for their personal finances.

Willis Owen conducted a snap poll with its customers and found that 53% of people said they feel confident about their personal finances. Just 17% said they are feeling unconfident, while 30% say they are unsure. This comes as speculation is rising that with £1,000 of savings income tax free from next April, the cash ISA could be under threat. The new combined ISA allowance for 2016-17 could also be confirmed this week.

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Jason Chapman, Managing Director of Willis Owen, commented:

With the first Autumn Statement since the Conservatives were re-elected almost upon us, the picture among savers is one of confidence about the outlook for their personal finances.

“That’s not to say everything is rosy though. Nearly a third of people told us there are still unsure about how their finances will pan out. Part of that is inevitable ahead of a major set of announcements but it also reflects a sense of uncertainty sitting below the broad economic optimism widely reported.

“We want to see the Chancellor commit to an environment in which people can invest and save with confidence. Policy developments that contribute to this are always welcome but sometimes a period of stability, allowing people to become familiar with the rules and regulations, can be helpful too. We look forward to hearing what the Chancellor has to say about boosting the UK’s savings culture.

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