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RTE Frontline and Irish Daily Mail Survey November 2012

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A survey of Irish people about financial priorities, expectations for Budget 2013 and their general attitudes towards social welfare and taxation

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RTE Frontline and Irish Daily Mail Survey November 2012

  1. 1. Budget 2013: Fears & Hopes Amárach Briefing for RTE Frontline/Irish Daily MailRTE Frontline/Irish Daily Mail November 20121
  2. 2. For the second year running, RTEFrontline and the Irish Daily Mailhave commissioned AmárachResearch to examine the mood ofthe nation ahead of Budget 2013.The findings are based on anationally representative sample of1,000 adults in Ireland, interviewedonline in November 2012.With economic uncertainly increasingrather than decreasing, we haveexamined the current financialcircumstances of the nation’shouseholds and families, and theirpreferences for tax and spendingchanges in the forthcoming budget.This report summarises the mainfindings including comparisons withkey findings from the 2011 study.
  3. 3. RTE Frontline/ Irish Daily Mail1. Under Pressure consumer behaviour2. Debt Problems mortgages & loans3. Balancing Act Budget 2013
  4. 4. 1. Under Pressure consumer behaviour
  5. 5. Feeling the Pinch 2011 2012 Incomes Under Pressure 2011 vs 2012 % % 39% 40% Decreased Decreased 2011 2012 All Adults 68 68 29% 28% Males 65 69 18% 19% Females 70 70 18-24s 37 46 11% 10% 25-34s 62 62 4% 2% 35-44s 78 74 decreased decreased no change increased increased 45-54s 86 84 significantly slightly either way slightly significantly 55+ 74 75 Q. Would you say your level of disposable income has increased or decreased over the last year? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 5
  6. 6. Money Remaining Money remaining % at the end of the month Nothing Left 2012 35% All Adults 31 31% Males 27 Females 36 21% 18-24s 22 25-34s 30 7% 7% 35-44s 35 45-54s 36 Nothing € 1 to 99 € 100 to 499 €500+ Refused 55+ 26 Q. Typically how much money do you have left at the end of the month (assuming you are paid weekly please give the average of monthly), before your next wage or salary payment? Source: Amárach Research, November 2012 (not asked in 2011)RTE Frontline/Irish Daily Mail 6
  7. 7. Deep Impact 2011 2012 Past Experiences 54% % % 46% None 2011 None 2012 34% All Adults 31 34 31% Males 28 29 20% 19% 20% Females 34 39 15% 11% 9% 18-24s 44 43 25-34s 26 31 none of these missing a buying missing a a reduction in mortgage groceries on loan income due 35-44s 23 23 repayment credit due to repayment to tax insufficient increases 45-54s 22 25 funds 55+ 38 43Q. Have any of the following happened/occurred in your household in thepast 12 months? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 7
  8. 8. Making An Effort 2011 2012 Cutting Expenditure 2011 vs 2012 % % 70% 66% Strong Strong 2011 2012 60% 56% All Adults 56 66 50% Males 52 62 40% 38% 30% Females 60 70 30% 18-24s 38 49 20% 25-34s 58 67 10% 6% 4% 35-44s 60 71 0% A strong A slight No effort at 45-54s 75 75 effort effort all 55+ 51 68 Q. What effort, if any, have you made in the past 12 months to reduce you household expenditure? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 8
  9. 9. Cut Leaders 2011 2012 Areas of Reduced Expenditure 2011 vs 2012 100% 90% 86% 81% 83% 80% 80% 77% 74% 71% 70% 65% 58% 60% 50% 40% 37% 30% 26% 20% 10% 10% 0% leisure groceries & phone & car & travel insurance childcare & expenses clothing energy schooling Q. In which of the following areas, if any, have you reduced household expenditure in the past 12 months? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 9
  10. 10. Bridging the Gap 2011 2012 Making Ends Meet 2011 VS % % 2012 Family Family 47% 45% 2011 2012 All Adults 32 35 35% 32% 26% Males 31 33 24% Females 34 38 9% 9% 5% 4% 18-24s 42 52 25-34s 46 52 borrowed depended borrowed not none of money more on money declared these 35-44s 39 41 from credit card from a income to friends or to pay bills money avoid tax 45-54s 30 24 family lender 55+ 12 15 Q. Over the past year, have you done any of the following? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 10
  11. 11. Missed meals due to lack of money % Missed 32% Meals Total 32 Males 32 68% Females 33 18-24s 47 Yes No 25-34s 42 35-44s 36 45-54s 25 Q. Have you missed a meal because of lack of money? 55+ 18 Source: Amárach Research, November 2012 (not asked in 2011)RTE Frontline/Irish Daily Mail 11
  12. 12. Savings Habits 2011 2012 Rainy Days 2011 VS 2012 55% 52% 48% 45% 37% 38% 33% 33% 33% 34% 29% 27% 27% 25% 18%19% 15%16% dont save save dipped groceries phone & car & insurance leisure childcare none of regularly regularly into & clothing energy travel expenses & these savings to bills expenses schooling pay for: Q. Do you save regularly? Q. All who save regularly: Have you had to dip into savings over the last year to help pay for any of the following? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 12
  13. 13. Future Concerns 2011 2012 Concerns for Next 12 Months 2011 vs 2012 75% 70% 66% 65% 49% 47% 45% 44% 42% 42% 39% 38% 33% 34% Income cut for Income reduction Reduced hours Redundancy for Missing a loan Buying groceries Missing a self or partner due to tax for self or partner self or partner repayment on credit due to mortgage increases lack of funds repayment Q. How concerned that the following might happen in the next 12 months? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 13
  14. 14. Difficulty Coping 24% €50 % % 21% decrease Easily Easily 2011 2012 All Adults 24 21 12% 11% Males 28 24 8% 8% Females 20 17 18-24s 30 16 25-34s 26 19 €50 monthly €100 monthly €150 monthly 35-44s 13 19 decrease decrease decrease 45-54s 16 22 2011 Easily 2012 Easily 55+ 31 23 Q. We would now like you to tell us the likely impact that the following scenarios would have on your after tax income: €50/100/150 monthly decrease in income Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 14
  15. 15. 2. Debt Problems mortgages & loans
  16. 16. Negative Equity 2011 2012 50% % % 42% Negative Negative Equity Equity 30% 2011 2012 All 22 30 22% 19% 18% Mortgage 9% 10% Males 26 32 Females 17 28 18-24s 11 17 value of home value of home value of home dont know greater than same as less than 25-34s 33 55 mortgage mortgage mortgage 35-44s 30 34 Q. Base – all who pay mortgage: Now thinking about the value of 45-54s 14 24 your home today, do you think it is worth more than you currently owe on your mortgage, about the same as you currently owe on 55+ 15 18 your mortgage, or less than you currently owe on your mortgage? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 16
  17. 17. Missed Payments 2011 2012 Average number of 81% monthly 74% 73% repayments 70% missed in 2012 = 3.9 2011 = 3.3 26% 27% 25% 19% Have not missed Have missed one Have not missed Have missed at any mortgage or more mortgage any other loan least one loan repayments repayments repayments repayment Base: All responsible for paying mortgage on the home Q. Have you missed any mortgage repayments in the past 12 months? Q. In the past 12 months have you missed a repayment on any other debt (e.g.: car loan, utility bill, phone bill etc)? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 17
  18. 18. Missed Payments 2011 2012 Mortgage Provider Contact 87% 77% 79% 69% 72% 65% 19% 12% 9% 8% Not contacted Contacted by If contacted, Post Phone Email by mortgage mortgage how? provider provider Base: All mortgage payees who have missed a repayment in past 12 months Q. If you have missed a mortgage repayment, have you been contacted by your mortgage provider? Q. If so, how were you contacted? Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 18
  19. 19. 3. Balancing Act Budget 2013
  20. 20. Budget Balance 2011 VS 2012 Increase taxes Cut spending % % Tax Tax Increases Increases 2011 2012 67% 66% All Adults 33 34 Males 32 34 Females 33 33 18-24s 38 36 33% 34% 25-34s 33 32 35-44s 31 32 2011 2012 45-54s 32 31 Q. What do you think should be the share of tax increases 55+ 31 35 and spending cuts in meeting the requirements of the forthcoming budget? Source: Amárach Research, November 2011/2012RTE Frontline/Irish Daily Mail 20
  21. 21. Closing the Budget Gap 2011 VS 2012 76% 70% 41% 39% 39% 39% 38% 34% 34% 35% 35% 33% 33% 33% 31% 30% 31% 23% 21% 20% 20% 17% 16% 12% Increase top Cut social Cut single Introduce a Reintroduce Introduce Cut childrens Introduce Increase rate Cut in state Increase Increase income tax welfare rates parents septic tank university water rates benefit property tax of VAT pension level bottom charges for rate to allowance charge fees for for income tax doctor unemployed households households rate visits/A&E Go ahead 2011 Go ahead 2012 Q. For each tax or cut please say whether think the government should go ahead or not with each measureRTE Frontline/Irish Daily Mail Source: Amárach Research, November 2011/12 21
  22. 22. Attitudes to Government Spending I 55% 55% 36% Ireland UK 30% 15% 6% Keep taxes and spending Increase taxes and spend Reduce Taxes and spend on these services at the more on health, education less on health, education same level as now and social welfare and social welfare Q:Suppose the government had to choose between the following , which do you think it should choose? Source: Amárach Research, November 2011/12 , British Social Attitudes No. 29RTE Frontline/Irish Daily Mail 22
  23. 23. Attitudes to Government Spending II 75% 53% 42% 30% 29% 15% 15% 13% Benefits for people who Benefits for disabled people Benefits for unemployed Benefits for single parents care for the sick or disabled who cannot work people % spend more Ireland % spend more UK Q. Some people think that there should be more government spending on social welfare, while other people disagree. For each of the groups I read out please say whether you would like to see more or less government spending on them than now.RTE Frontline/Irish Daily Mail Source: Amárach Research, November 2011/12 , British Social Attitudes No. 29 23
  24. 24. Attitudes to Government Spending III 62% 59% 62% Ireland UK Ireland UK 42% 33% 28% 32% 26% 19% 9% 8% 5% 3% 1% Benefits for Benefits for Neither Mainly the Mainly a person Mainly a Dont know unemployed people unemployed peoplegovernment themselves and persons are too high and are too low and their family employer discourage them from cause hardship finding jobs Q:Who do you think should mainly be responsible for ensuring that people have enough to live on if the become unemployed? Q:Which of the two statements comes lose to your own view ? Source: Amárach Research, November 2011/12 , British Social Attitudes No. 29RTE Frontline/Irish Daily Mail 24
  25. 25. Attitudes to Government Spending IV 67% % % Irish Irish agree 1 agree 2 54% 50% All 50 67 Recipients 37% Males 50 68 Females 51 65 18-24s 59 53 25-34s 49 61 35-44s 51 67 45-54s 46 69 If benefits werent so generous Government should redistribute people would learn to stand on income from the better off to those their own two feet less well off 55+ 49 78 Ireland Agree UK Agree Q:Please say whether you agree or disagree with the following statements ? Source: Amárach Research, November 2011/12 , British Social Attitudes No. 29RTE Frontline/Irish Daily Mail 25
  26. 26. Main Use of Child Benefit 2011 2012 53% 53% 52% % % 50% Save Save 42% Benefit Benefit 2011 2012 33% All 20 15 Recipients Males 25 20 20% 15% Females 16 11 18-24s 28 26 25-34s 22 22 spend on spend on the use to pay put in 35-44s 17 11 groceries etc children bills savings account 45-54s 18 15 Q. What do you do with your child benefit payments? 55+ 30 5 Base: all who receive child benefit Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 26
  27. 27. The Budget & Child Benefit 2011 2012 % % 64% Means Means 63% Test 2011 Test 2012 All 63 64 Recipients Males 61 65 20% 16% 16% Females 64 63 13% 4% 18-24s 61 74 1% 2% 25-34s 70 59 Introduce decrease tax just like other No Cuts means average other income 35-44s 69 69 testing amount 45-54s 50 57 55+ 43 74 Q. If cuts were to be made to child benefit payments in the upcoming budget how would you prefer it was done? Base: all who receive child benefit Source: Amárach Research, November 2011/12RTE Frontline/Irish Daily Mail 27
  28. 28. About AmárachAmárach Research is an independent marketresearch agency, providing a full range ofresearch services to our Irish and internationalclients. Amárach specialises in turninginformation into insight; and insight into foresight.Amárach’s experienced team of 30 directors andexecutives manage online, face-to-face and catisurveys (through our call centre); as well asqualitative research including focus groups, in-depths and ethnographic studies. We alsodelivers a world class field-only service touniversities and international agencies.Over nearly 25 years, Amárach has pioneeredinnovative research techniques and reported onIrish social, lifestyle and tech trends since the1980s. Amárach invests heavily in understandingcurrent Irish consumer and business trends, andshares numerous, free reports and presentationsvia our blog and slideshare sites, linked via ourmain website: www.amarach.com
  29. 29. Trends ReportCall us on 01 410 5200 to explore your pathto recovery and success through research:Mark Nolan Managing Directoror Michael McLoughlin Chief Executiveor Gerard O’Neill Chairmane. info@amarach.comw. www.amarach.comb. www.amarach.com/blogt. twitter.com/AmarachResearch

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