Labour Leads Among High Net Worth Individuals in Poll
Wealthy Individuals Favor Keir Starmer Over Rishi Sunak
In a surprising turn of events, Labour has managed to secure a poll lead even among some of the country’s wealthiest people. A recent survey of High Net Worth Individuals (HNWIs) revealed that they were almost twice as likely to support Keir Starmer over Rishi Sunak in the upcoming election. According to research conducted by wealth management firm Saltus, 27% of HNWIs expressed their support for the Labour Party, while the Conservatives and Liberal Democrats both garnered 16% backing. High Net Worth Individuals are defined as those with investable assets exceeding £250,000.
Saltus Wealth Index Reflects Confidence Among HNWIs
The Saltus Wealth Index, which monitors the confidence of HNWIs in the UK economy and their personal finances, has seen a notable increase in the latest edition. Currently standing at 64.4, the index has surged by 4.9 points compared to November 2022, shortly after Liz Truss’s mini-Budget. Despite this uptick, it still falls short of the peak of 67.7 recorded just before Ms. Truss assumed the role of Prime Minister.
High Net Worth Individuals’ Expectations for the General Election
Mike Stimpson, Partner at Saltus, commented on the findings, noting, “It is evident that high net worth individuals are anticipating a victory for the Labour Party in the next General Election, irrespective of their own political affiliations. The support of this demographic is crucial for the UK’s future success, as it influences investment decisions, job creation, and overall economic growth.” Previous surveys by Saltus indicated a significant decline in confidence regarding the UK economy and personal finances following Liz Truss’s budget announcement in the Autumn of 2022. While there has been some recovery in confidence levels, they have yet to reach the pre-Truss era benchmarks.
Challenges for Rishi Sunak
These results pose a fresh challenge for Rishi Sunak, a former investment banker at Goldman Sachs who transitioned into politics. Currently, he faces setbacks as the PM, along with his wife Akshata Murty, holds the title of the wealthiest residents of Downing Street in history, boasting an estimated fortune of £520 million, according to the Sunday Times Rich List.
Insights from Censuswide Survey
The survey conducted by Censuswide involved interviewing 2,000 High Net Worth Individuals in the UK during December. These findings shed light on the shifting political landscape and the sentiments of affluent individuals towards different political parties.
Frequently Asked Questions
Why are High Net Worth Individuals leaning towards Labour over the Conservatives and Liberal Democrats?
The survey conducted by Saltus revealed that High Net Worth Individuals are showing more support for Labour, with 27% backing the party, compared to 16% each for the Conservatives and Liberal Democrats.
What does the Saltus Wealth Index indicate?
The Saltus Wealth Index, tracking confidence levels among HNWIs in the UK economy and personal finances, has risen to 64.4 in the latest edition, showcasing a positive trend compared to previous months.
How important is the support of High Net Worth Individuals for the UK economy?
According to Mike Stimpson from Saltus, the support of HNWIs plays a significant role in driving investment, job creation, and overall economic growth in the UK, making their votes crucial in the upcoming elections.
What challenges does Rishi Sunak face amidst the survey results?
Rishi Sunak, facing a poll lead for Keir Starmer among High Net Worth Individuals, encounters additional hurdles given his background as a former investment banker and his status as one of the wealthiest residents in Downing Street’s history.
