Brits ‘jittery’ about money as October budget looms

Published: 27 Aug 2024

Readership data from Taboola suggest consumers have become more anxious about their finances since the General Election, with page views for personal finances up 268%

Personal finance has become top-of-mind for many consumers since the election, with rumours about pension raids and tax hikes adding to concerns about the winter fuel payment cuts for pensioners.

At the end of July, chancellor Rachel Reeves announced that pensioners not on means-tested benefits would no longer receive winter fuel payments. This will mean about 10 million pensioners lose out on £200-300 per year.

The decision has led to much media coverage and has been widely criticised, with readership trend data from Taboola showing that ‘pensioners’ was the seventh most popular topic over the past 30 days.

Over the period, the term pensioners attracted 10 million page views among Taboola’s network of UK media publishers. This put the topic above the page views for both ‘riots’ and ‘Southport’, despite the UK suffering its worst unrest in more than a decade.

Beyond the retiree audience, intense speculation about Reeves’ first budget, due on October 30, appears to have left the wider population feeling concerned about their finances. Reeves has repeatedly refused to rule out an increase in capital gains tax and there are also rumours there may be cuts to pension tax relief and increases in inheritance tax.

Taboola has analysed readership trends across its network of UK media publishers in the 45 days since the election to identify what topics are at the forefront of readers’ minds. Its data show:

• Page views for winter fuel payment were up 26,000% on the previous 45 days
• Page views for pensioners were up 340% on the previous 45 days
• Page views for personal finance were up 268% on the previous 45 days
• Page views for tax were up 150% on the previous 45 days
• Page views for capital gains tax were up 81% on the previous 45 days
• Page views for pensions were up 48% on the previous 45 days
• Page views for budget were up 208% on the previous 45 days
• Page views for pension credit were up 115% on the previous 45 days
• Page views for VAT were up 79% on the previous 45 days
• Page views for tax hike were up 831% on the previous 45 days

Dave Struzzi, Communications Lead, Taboola said:

“Taboola’s data for the period since the General Election suggest that Brits have become more jittery about their financial future since the change in government. This is understandable given the headlines we’re seeing about what’s expected in the October budget. We expect interest to remain high in topics affecting consumers’ personal finances for at least the next couple of months.”

- ENDS -

Notes to Editor

About Taboola

Taboola powers recommendations for the open web, helping people discover things they may like.

The company’s platform, powered by artificial intelligence, is used by digital properties, including websites, devices and mobile apps, to drive monetization and user engagement. Taboola has long-term partnerships with some of the top digital properties in the world, including Yahoo, CNBC, BBC, NBC News, Business Insider, The Independent and El Mundo.

Around 18,000 advertisers use Taboola to reach nearly 600 million daily active users in a brand-safe environment. Taboola is a leader in powering e-commerce recommendations, driving more than 1 million monthly transactions, with leading brands including Walmart, Macy’s, Skechers and eBay among key customers.

Learn more at www.taboola.com