HNWs and Londoners are confident that the new-look Government will make them RICHER, with two thirds of the UK's wealthiest believing the Conservative-DUP partnership will strengthen the economy post-Brexit. Three-quarters of HNWs think Theresa May will help private investors grow their portfolio by 2022.
IW Capital has surveyed 2,000 UK adults to uncover what they think the Conservative-DUP partnership will mean for their personal wealth and the country's economy, finding:
- 59% of UK HNWs – equivalent to 2.1 million people – believe the new-look Government will make them richer over the next five years
- 54% of Londoners said the same thing – both above the national average of 51%
- Almost two thirds (64% or 2.3 million people) of HNWs think the current Government will put the UK economy in a stronger position after Brexit than it was before
- 60% of respondents in the capital agreed with this sentiment – UK average was 58%
- Three quarters (73%) of HNWs have faith in the Government to protect the interests of private investors and help them grow their portfolios between now and 2022
- The findings come as a survey of UK millionaires found that 78% think Brexit would have a "positive effect" on their financial plan
- The 2017 Sunday Times Rich List showed that the wealthiest 1,000 individuals and families in the UK have a record total wealth of £658 billion, up 14% on last year
Private investment house IW Capital has commissioned a survey of 2,000 UK adults to uncover what they think the partnership between the Conservative Party and the Democratic Unionist Party (DUP) will mean for their personal wealth and the country's economy. It found that 59% of UK high net-worths (HNWs) – the equivalent of 2.1 million people across the nation – think the new-look Government will make them richer over the next five years. Furthermore, Londoners were similarly positive, with 54% of people in the capital agreeing with this sentiment – both ranking above the national average of 51%.
The independent, nationally-representative survey also found that there was significant confidence towards the newly-formed Government's ability to drive the economy forwards during the Brexit negotiation period that lies ahead; 64% of HNWs (2.3 million people) think the Conservative minority will put the UK economy in a stronger position after the country leaves the EU than it was before. The figure among those in London stood at 60%, again above the nationwide average (58%).
HNWs proved bullish in their sentiment towards the new Government when it came to protecting the interests of private investors – almost three quarters (73%) of HNWs said they had faith in Theresa May and her team in helping them grow their investment portfolios between now and 2022.
IW Capital's timely research comes just a week after the Conservative-DUP partnership was officially agreed. It follows a study by UBS among UK millionaires, which found that 78% think Brexit would have a "positive effect" on their financial plan. Furthermore, the 2017 Sunday Times Rich List showed that the wealthiest 1,000 individuals and families in the UK have a record total wealth of £658 billion, up 14% on last year.
Luke Davis, CEO of IW Capital, commented on the findings:
"The General Election result may have come as a shock, but today's research demonstrates that much like Brexit uncertainty, wider investor sentiment remains buoyant. It is vital in the current period of political and economic transition, that those who hold significant investment capability are supported in their financial intentions. The nation's high net-worths serve tremendous value in catalysing and sustaining economic momentum, so the positive sentiment revealed today is encouraging.
"With confidence in the Government's economic approach evidently high, it is vital that investors are supported and educated so they can seize the lucrative investment opportunities on offer across the country's diverse private sector – something that will be particularly important as the Brexit negotiations unfold over the coming 24 months."