Three quarters of Britons are optimistic that 2021 will be a better year after 2020 hit the Covid pandemic, but 43% fear financial markets will collapse
- A shocking 96 percent of people said 2020 was a bad year for the UK
- However, three quarters are also optimistic that 2021 will be a better year for the British
- Two thirds of people in the UK say the economy is unlikely to recover in the next year
Three quarters of Britons believe 2021 will be a better year than 2020, according to a new poll.
Despite the optimism, Ipsos Mori's research found that 43 percent of Britons are concerned that financial markets will collapse if the world continues to struggle
The poll found that seven in ten people said 2020 was bad for them and their families, while an impressive 96 percent said the year was bad for the UK.
However, the newly discovered coronavirus vaccine gave some boost, with the overall outlook for 2021 being the most optimistic in the past seven years.
The survey interviewed 1,000 adults and compared attitudes in the UK to 30 other countries.
Sarah Castell from Ipsos Mori said: “After a very difficult year, the majority of people around the world are optimistic that 2021 will be better.
"However, the predictions reveal warnings about the future in areas such as the economy, climate change, our mental health and income inequality."
Under these warnings, just 32 percent believe life in the UK will return to normal in 2021, and just over a tenth believe the economy will recover.
A third also fear there will be another pandemic from a new virus.
Two-thirds of people in the UK say the economy is unlikely to recover in 2021 – the most pessimistic outlook from 31 nations polled.
It comes after experts warned that unemployment will rise to 7.5 percent and 2.6 million people will be unemployed if the vacation program ends in the spring.
The Bureau of Budgetary Responsibility said the tens of billions spent on keeping jobs and the billions more spent on business loans and grants averted disaster this year.
However, it warned of a possible cliff edge if they end in the spring and the Chancellor gave no indication in his spending review today that the regulations would be expanded.
Unemployment in the UK is currently at 4.8 percent and the OBR forecast suggests that it will not be back to pre-pandemic levels until the second half of the decade at the earliest.
The coronavirus pandemic resulted in temporary store closures, social distancing and falling tourist numbers, all of which weighed on UK cities.
A number of retailers have cut jobs, closed stores, and entered into restructuring deals in order to survive. However, none of these measures was enough for some companies to maintain their place on the main drag.
Many famous retailers are currently under management and the fate of their brick and mortar stores is unclear.
These include Debenhams, Peacocks, Jaeger, Edinburgh Woolen Mill and the members of Sir Philip Green's Arcadia Group: Topshop, Dorothy Perkins, Burton and Miss Selfridge.