Brexit remains top of the list of factors influencing the vote.
Personal investors remain undecided on their General Election vote
With the much talked about General Election having been called for 12th December and ahead of the publication of the various parties’ manifestos, we polled over one thousand customers to understand what personal investors want to see the parties deliver. Key findings were:
- Strong support for Boris Johnson
- Brexit remains top of the list when it comes to influencing voters’ choice
- Conservative Party has the highest support but far weaker than in the lead up to the 2017 General Election and with a much higher proportion undecided
- Demand for continued support for incentives to save / invest
- Demand for increased financial education remains consistent with results from 2017 survey of our customers
- Investors are deferring investment decisions until after General Election
Between the main parties, the findings have shown the Conservative Party as a clear front runner (45%) to win on 12th December, followed by Liberal Democrats (20%) and then the Brexit Party (6%) with Labour on just 5%. However, with 14% indicating they are currently undecided; all is yet to play for.
When compared against the survey which we run ahead of the 2017 snap General Election, while the Conservatives and Liberal Democrats were again the front runners – 64% and 13% respectively – those who were undecided were fewer, standing at just 7%. This suggests the rise of the Brexit Party and undecideds is impacting the Conservative vote most heavily and highlights the significant increase in Liberal Democrat support.
Personal investors are also unsure what the Government will look like after the vote, with 26% believing it will be a Hung Parliament with a Conservative led coalition, but only just ahead of 25% believing it will be a win for the Conservatives but with a minority Government, and 23% thinking the Conservatives will win with a majority.
Unsurprisingly, as seen in our 2017 survey Brexit remains top of the list of factors influencing the vote (75% in 2019 vs 74% in 2017), again followed by the Economy (61% vs 59%) and the NHS (30% vs 25%).
Over three quarters (77%) believe the Conservatives understand the needs of personal investors best, this is down from the support of 83% seen in 2017.
When asked what they would like to see the parties promise to personal investors, the three key issues were:
- Stability in the tax system and continued support for incentives to save/invest (75%)
- Increased emphasis on financial education (36%)
- New incentives to encourage younger people to save more (35%)
Finally, when asked whether the General Election would have an impact on stock markets while half (50%) stated yes but only in the short term due to increased volatility, over a quarter (26%) said the markets will be impacted negatively. At the same time, two in five (42%) are deferring their investment decisions until after 12th December and a further 14% are likely to change their investment behaviour but will wait before deciding how.
Richard Stone, Chief Executive, comments:
These results shows support for the Conservative Party remains strong among personal investors, but with Brexit remaining the key issue influencing investors’ voting decisions opinion has polarised. This means the Liberal Democrats are seeing a significant increase in support relative to 2017 while the Conservatives have seen a significant fall compared to their position going into the last snap election. This is explained by the rise in support for the Brexit Party and a doubling of the proportion of personal investors who are undecided at this time.
This suggests the campaigns run by the parties will be able to persuade and influence personal investors – particularly those yet to make up their minds. The calls from personal investors for stability in the tax system, increases in the importance placed on financial education and more support for younger savers and investors should therefore be heeded by the Parties as they seek to win support from this group.
* We surveyed 1,192 of our customers online between 2- 6 November 2019