Political change fuels need for financial certainty
The confirmation of Boris Johnson led to an explosion in internet searches from investors trying to find out how the changes may affect their finances.
That is according to Financial Planner Octopus Wealth, which carried out the analysis.
The firm used Google Trends data to see how people’s search behaviour changed between Boris Johnson’s candidacy being announced on 16 May, and the confirmation of the new PM.
The research found:
• Searches relating to Boris Johnson and tax increased by 4,750%
• Searches seeking information on Boris Johnson and pensions leapt 190%
• Searches for EU investments grew by 137%
• Searches for UK pensions reduced by -36%
Richard Wazacz, CEO of Octopus Wealth, said: “When there’s an extended period of political uncertainty, like we’ve had over the last three years, it’s only natural that people will want clarity on how their personal finances may be affected.
“Government policy can have a huge impact on household wealth and financial well-being, and it’s something individuals often have little direct control over.
“But what we can all do is seek trustworthy and transparent advice to provide reassurance that we're on track for a secure financial future for us and our loved ones.
“There’s little point in fretting over what impact the government may have on our finances, be that good or bad. Instead, speak to qualified and impartial professionals who can put together a tailored plan that will ensure your money is working as hard as it can, regardless of what’s going on around you.”