New survey shows uptick in households worried about finances

Scottish Liberal Democrat economy spokesperson Jamie Greene MSP has today said the government have failed to do anywhere near enough to grow the economy after a new survey found an increase in households feeling less financially stable compared to a year ago.

The Scottish Consumer Sentiment Indicator is based on a face-to-face survey of adults in Scotland, which asks for their attitudes towards different areas of economic performance, including household security and spending. Their responses make up what is known as the consumer sentiment indicator.

The latest results show that in the first quarter of 2025:

• The indicator remained negative, standing at -6.5 and decreasing by 1.6 points compared to the previous quarter.
• The indicator for expected household financial security stood at -5.0, implying that households, on balance, expect their future household finances will become less secure over the next 12 months.
• Attitudes to spending also weakened to -19.2, indicating worsening sentiment on balance across the quarter with households less relaxed about spending money than a year ago.

Mr Greene said:

“Households are paying the price for years of economic neglect by both of Scotland’s governments, and that has a really worrying domino effect. When people feel less secure about their finances, our high streets and local economies come under even more pressure.

“People deserve better than the SNP’s incompetence, Labour’s cruel jobs' tax and the Conservatives’ reckless, unfunded promises.

“I want to speak to businesses both small and large about how we can kickstart economic growth, boost skills and put Scotland at the forefront of industries like renewables, AI, defence and precision medicine. Scottish Liberal Democrats also want the government to reform business rates to better support small businesses.

“That’s how can create opportunities, support households and spark economic growth in every corner of the country."