Our latest customer survey reveals what personal investors want from the new Prime Minister.
Hunt is investors’ preference in race for Number 10
- Majority of personal investors would prefer to see Jeremy Hunt win on Wednesday.
- Only one in seven believe the Conservative Government since 2017 has been good for personal investors.
- We call on the new Prime Minister to demonstrate their support for personal investors in administration’s first budget.
With the winner of the Conservative Party leadership election, and our next Prime Minister, due to be announced, we recently surveyed 1,454 of our customers and found that personal investors would prefer for Jeremy Hunt to be successful. Whoever wins will have much to do to regain personal investors’ confidence given the negative view of the Conservative government since the 2017 General Election.
When asked which of the leadership contenders would be best for personal investors, given the commitments made, 35% said Hunt as compared to 29% who favoured Boris Johnson. This translated into a preference among those who expressed an opinion between Jeremy Hunt and Boris Johnson of 51% stating that Jeremy Hunt should be the next Prime Minister as compared to 49% favouring Boris Johnson.
Whoever wins the leadership race will need to repair the standing of the Conservative Party among personal investors. More than two in five (41%) of respondents stated that, since the 2017 General Election, the Conservative Government had not been good for personal investors. Only 15% feel they had been good for investors. This split perhaps reflects the fact the FTSE100 and FTSE All Share indexes are at largely the same level now as they were in June 2017 albeit they have been lower for much of the intervening period.
Unsurprisingly, investors are keen for the successful candidate to provide clarity when it comes to the UK’s departure from the EU. 42% of respondents believe the UK should leave on 31 October without a deal, while over one in 10 (11%) indicate we should leave but only with a deal and less than one in 10 said the UK should delay beyond the 31 October until a deal is done. These figures compare to 17% who believe there should be a second referendum and 20% who believe that the UK should revoke Article 50.
Whoever wins the Conservative Party leadership election and becomes the next Prime Minister will be taking on the role at a time of uncertainty and challenge for the British political system. If the general polling of Conservative members is to be believed, the likely winner is Boris Johnson. Personal investors favouring, albeit marginally, Jeremy Hunt indicates Mr Johnson will have a hard task in front of him to persuade them of his support. This is made all the harder by investors clearly being unimpressed with the Conservative Government since the last General Election. We would encourage the new Prime Minister, when appointed, to include within their administration’s first budget some key measures to underpin and encourage personal investment and wider share ownership.