Creating growth: The consumer perspective

Growth seems to be the big word at the moment. What are its new levers? Where will it come from? What is the role of business? As part of our Austerity Britain research, which will be published next month, we commissioned a snapshot poll to get the public’s take on which one factor they thought would do the most to create growth in the British economy.

Overall, more than one in five adults said that the country needed to make more goods and products again. 11% said that more lending to small businesses and homebuyers was the most important issue and one in ten people called for lower taxes.

The over 45 age group were those most vocal in believing Britain should make more goods, whereas younger people were more likely to suggest the young and unemployed should work for their benefits - and 11% of under 25 year olds said more school leavers should be encouraged to learn a trade or start an apprenticeship rather than go to university.

Across the country, 6% of Britons stressed the importance of large businesses investing in job creation and 5% said consumers should buy British, rather than go for the cheapest product. Only 3% mentioned consumers spending more on the high street.

The consumer take perhaps says less about growth and more about what might create confidence - what people need to see to feel optimistic.

In next month’s Austerity Britain report, a new series for 2012, we will report on wide-ranging consumer research we have commissioned that explores how people have coped with the economic slowdown, how their routine and their outlook has changed and what have become their hopes and fears – financially, socially, domestically and economically. A break from the big economic picture, Austerity Britain is a look at Britain today through the eyes and experiences of the consumers living through changing times.