Brexit poll: 61% of loveMONEY readers think they'll be poorer after referendum result
Almost two-thirds believe they'll be worse off as a result of the vote to leave the EU, according to our latest poll.
An astonishing 61% of loveMONEY readers feel they’ll be financially worse off now that we’ve voted to leave the EU, while a similar number believe we're headed for a recession.
This comes as Chancellor George Osborne warned the country is “going to be poorer” as a result of the vote.
Speaking on BBC Radio, he added: “We are in a prolonged period of economic adjustment in the UK, we are adjusting to life outside the EU and it will not be as economically rosy as life inside the EU.”
Your views on what lies ahead
Following last Thursday's (June 23) landmark vote, which has caused massive stock market volatility and seen the Prime Minister step down, we've been gauging how you’re feeling about your finances – and the economy in general.
Of the 2,900 responses we had to our first poll, a clear majority (61%) feel their finances are about to take a knock.
Just under one in five (17%) have a more optimistic view of the vote, saying they expect to be better off. A slightly larger group (22%) believe their money won't be affected either way.
Take a look at the full results in the image below.
In a separate poll, we asked whether you thought the vote to leave will drag the UK into a recession.
Of the 1,930 who responded, again 61% have a gloomy outlook, while just under four in 10 (39%) believe our economy will not shrink as a result.
What to do now we've voted to leave
Whether you've taken a positive or negative view on what lies ahead long term, you need to consider what it means for your money in the short term.
From savings to mortgages, have a read of our guide to what you should and shouldn’t do with your money right now.
Keep track of your financial future with the loveMONEY Plans app, where you can see all of your bills, records and other money-related documents at a glance. Start your 30-day free trial today.
EU referendum stories you might have missed:
We've left the EU: what now for your money?
How much do YOU know about the EU?
Be-leave we'll Brexit? Investing expert's tips for protecting your pension
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Comments
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Sorry, Matteo, but the Commissioners are appointed, not elected and it is a fact that most of them are failed politicians from their own member states - eg. Juncker, Kinnock. Unlike our own civil service, the Commissioners are a civil service with disproportionate powers. Our binary referendum has left the UK inevitably polarised. That is tragic and down to the brutal nature of what the ballot asked the voters, The fact is a majority voted Leave for a variety of reasons of which only one may be "racism". I understand the Remain voters are upset and that may, in part, be down to an unshakeable belief that Brexit would fail. Now it's time for the country to pull together behind the best way to make the will of the majority happen.
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In the 70s I voted NO to the Common Market and was shocked so many people voted yes. The EU has changed things beyond all sensible recognition, from the compulsory squirrel cull to wasting imperfectly shaped food, taking away each country's individuality with the Euro and the threatened passing of control over the NHS and more to foreign investors who can control it without us being able to stop them. That is even before one thinks of the dangers of excessive immigration. Racism does not come into it, as that is just an excuse for allowing anything without using common sense. It is not racist to want to protect your own country and culture rather than risking it being subsumed by something else. As for being worse off, we were poor to begin with so having money means nothing to me or my family. Life has better value without it. We have gone hungry before, if we have to again we will cope. So what?
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Matteo: the elecorate should have more influence in the UK than it has and within the EU such influence would be so diluted as to be nothing. The elected, elected/appointed and appointed have too much unregulated delegated power that should be much better controlled. Without the EU, the UK electorate still have to solve the control of those given power. ie It matters more what our "servants" do than how they arrive in the positions of power. I have a feeling that to avoid a mass of legislation, a simple constitution to which all laws must conform might work but something has to be done EU or no EU.
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02 July 2016