Anxious Britain: Cost-of-living and war are redefining what matters most

Even during some of the darkest days of the pandemic the British public felt hopeful about the future. And, last summer, hope was on the rise. The vaccine roll-out was delivering, and hospitalisations from Covid-19 were falling.

Now our latest Hope Index reveals that the cost-of-living crisis, stoked by the war in Ukraine, has reversed that spark of optimism. The results are stark: hope has dropped by 30% over the last year.

There is some early evidence to suggest that while the pandemic shocked the economy and our way of life, hope in fact grew and the public were able to focus on broader issues like climate change. Now, the cost-of-living crisis and war in Ukraine are driving a focus towards more fundamental human needs of safety and security.

The data shows the increase in pessimism is fuelled by worries over the cost of energy bills, energy security, geopolitical insecurity, tax increases and the affordability of everyday life. These issues are now front of mind. While concerns about topics like climate change have been forced to take a back seat

This research also reveals who the public believe is taking the lead to address these issues. Here the results are equally striking: most say they don’t know, and only a third say ‘government’.

This creates an opportunity. As shocks continue to shake our way of life, people are increasingly looking for more stable ground. Businesses could help provide that stability - but people need to believe they share our values and act authentically.

The encouraging news is that the publics’ shared values are remarkably resilient, unchanged over the last three years by the pandemic, the cost-of-living crisis or conflict in Ukraine. And the values they expect business to share and reflect remain unchanged too: Reliability, fairness and hard work. In addition, there is helpful guidance for the themes business can put at the heart of their stories to build trust and reputation. People want companies to be reliable, work for fairness, be open and transparent, care about future generations and have admirable, visible leadership

Companies create the jobs we need, the services upon which we rely and the products we want. They are critical to addressing the challenges of our time: helping people through the cost of living crisis, rebuilding the economy and protecting the planet for future generations. We believe they could also help make Britain a hopeful nation again.

Businesses making a contribution to the UK can reassert themselves as the foundation of the nation's economy and broader society. In doing so they will build reputation and trust, and increase their ability to influence on the issues that matter.

Q We’d like you to think about how you feel, as we move towards autumn how hopeful are you about the year ahead?

The public are most worried about the cost of energy bills, energy security and war

Q How worried are you about the following issues when you think about the coming year?

[‘Worried’ refers to answer options 1 and 2 (‘very worried’ and ‘somewhat worried’. ‘Not worried’ refers to answer options 4 and 5 (‘not that worried’ and ‘not at all worried’)]

Last year, climate change and crime were the issues worrying people the most. Now, everyday affordability and increases in tax take precedence

Q How worried are you about the following issues for the rest of the year?

N.B. % show shift in relative importance vs previous Hope Index. The cost of energy bills, energy security and war/geopolitical insecurity were not included as answer options in the last wave of polling. As such, there is no comparison data available.

Looking ahead - the issues the public are least optimistic about are the most powerful drivers of further pessimism

Q. How worried are you about the following issues when you think about the coming year?

Q. We’d like you to think about how you feel, as we move towards autumn, how hopeful are you about the rest of this year?

In this context, there is uncertainty about who should lead in tackling these issues – creating space businesses could fill to help build reputation and trust

Q. Thinking about the wide range of challenges facing UK society today, please tell us who you believe is taking the lead on tackling them? [Average score]

For business to fill this space, the public are consistent about the values they expect companies should share and reflect in their stories

Q. Which values is it important that businesses operating in the UK demonstrate through the way they behave? Top 2 Responses (1 & 2 – very important / 10)

And there is clear guidance about the themes companies could build their stories around to earn trust

Q. Thinking about what you know and what you have experienced of businesses in the UK today on the whole, how trustworthy would you say they are?

Q. To what extent do you agree with the following statements about businesses in Britain at the moment?

Methodology

4,000 nationally representative sample
Fieldwork conducted: 29 April – 31 May 2022

The Hope Index 2022