RI-M03: The proportion of consumers who agree that they have confidence in the UK financial system
Table: The proportion of consumers who agree that they have confidence in the UK financial system
| Types of consumers | 2022 | 2023* | 2024 |
|---|---|---|---|
| All UK adults | 41% | 43% | 39% |
| Those showing any characteristics of vulnerability | 33% | 34% | 30% |
| Those not showing any characteristics of vulnerability | 49% | 50% | 46% |
Source: Financial Lives survey (FLS)
* The 2023 results are from an FLS recontact survey. In May 2023, we recontacted all FLS May 2022 respondents who had agreed to be invited to take part in a follow-up survey. Just over 6,000 took part, a good response rate of around a third of those invited. We can compare results between the 2 surveys – importantly, the data from both surveys were weighted in the same way, to be representative of UK adults. There are some methodological differences between the 2 surveys, however, and it is possible that these may contribute to changes in some results. The recontact survey checked for changes in people’s ownership of financial products, rather than re-asking all product ownership questions. The recontact survey results are representative of 19+ year olds, because we re-contacted respondents 12 months after the main FLS 2022 survey of adults aged 18+.