Abbey: Finance threat outdoes terror risk

05 March 2007
One in four British people see tight finances as the biggest single threat to their future quality of life, ranking them more of a worry than terrorism or climate change.

Despite the flurry of green financial products entering the market, only four per cent of customers surveyed said the environment was a major worry.

While the effects of climate change remain a relatively long-term concern, financial concerns are more immediate, a point highlighted by the fact that only three per cent of older people were worried about environmental degradation, perhaps because they do not expect it to have an impact in their own lifetimes.

The report's authors were upbeat about the finding that 32 per cent of people believed they would have a better quality of life next year while only 15 per cent of people anticipated that it would get worse.

"People are generally positive about their quality of life in 2007," an Abbey spokesperson commented.

But an age-based analysis shows that financial optimism may be generated by financial ignorance, with 49 per cent of students optimistic about their future quality of life compared to only 21 per cent of retired people.

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