The number of people expressing confidence for the economic outlook for the next 12 months is falling, new figures have revealed.
According to the Association of British Insurers’ (ABI) latest Savings and Protection survey of 2,500 adults, nearly one-third expect the economy to worsen in 2010.
This represents an increase from the 22 per cent of people who held the same opinion in the previous quarter.
The organisation said the rise could be attributed to worries over job security, paying off debts and the ability to save.
Dr Rebecca Driver, the ABI’s director of research and chief economist, said: "Despite continued fiscal and monetary policy intervention, consumer perceptions of the economic prospects and their own job security in 2010 have deteriorated.
"These findings highlight how important it is for any government to deliver policies that appeal to consumers’ increasing sense of financial responsibility, helping more people become financially independent by increasing saving as well as reducing debt."
Fears over the economic future could lead to rise in the number of people looking to capitalise on their property assets through equity release schemes.
Such policies allow property owners too boost their income with cash drawn from the value of the home.
