January 27, 2008

Abstract: (Angus Reid Global Monitor) - Many people in Britain feel an economic crisis is imminent, according to a poll by Populus released by ITV News. 47 per cent of respondents are pessimistic about the state of their country’s s economy over the next year, while 34 per cent feel optimistic.

(Angus Reid Global Monitor) - Many people in Britain feel an economic crisis is imminent, according to a poll by Populus released by ITV News. 47 per cent of respondents are pessimistic about the state of their country’s s economy over the next year, while 34 per cent feel optimistic.

In June 2007, Gordon Brown officially became Labour leader and prime minister, replacing Tony Blair. Brown had worked as chancellor of the exchequer. Blair served as Britain’s prime minister since May 1997, winning majority mandates in the 1997, 2001 and 2005 elections to the House of Commons.

The British economy has been hit by a global financial crisis attached to high risk loans. Last year, the British Northern Rock bank—a prominent mortgage lender—was forced to seek emergency funding from the government.

On Jan. 25, while speaking at the World Economic Forum in Davos, Switzerland, Brown warned of gloomier times, saying, "This is a testing time for the global economy and those of us who believe in free markets, flexible economies and sustainable globalization. There is also a danger, with bad news still to come, of being over-optimistic about what we can achieve and over-emphasizing the silver lining at the expense of the clouds."

Polling Data

How optimistic or pessimistic are you about the state of the UK economy over the next twelve months?

Very optimistic	9%
Slightly optimistic	26%
Slightly pessimistic	29%
Very pessimistic	18%
Neither	18%

Source: Populus / ITV News
Methodology: Telephone interviews with 1,200 British adults, conducted from Jan. 9 to Jan. 10, 2008. No margin of error was provided.