Economic optimism remains near historic lows, capping a year of rock-bottom public sentiment
In December 2025, just seven per cent of Britons think the economy will improve over the next 12 months and 73% think it will worsen, giving an Ipsos Economic Optimism Index figure of -66. This is close to the -67 figure seen last month, and is just two points below the record low score of -68 from April 2025.
Ipsos’ Economic Optimism Index asks Britons whether they think the general economic condition of the country will improve, stay the same, or get worse over the next twelve months, and has been tracking the economic mood of Britons since 1978. 
December’s score of -66 is the third-lowest on record and marks 2025 out as a period of historically low economic optimism. In a series stretching back to 1978, all three of the lowest recorded scores fall within the past year: -68 in April, -67 in November, and -66 this month. The next-lowest score is -64, recorded three times in June 2022, July 2008 and January 1980. This also means that at the end of the year, the average Ipsos Economic Optimism Index for 2025 stands at -58, the lowest yearly average we have recorded since the series started (the previous lows were -54 in 2022 and 2008, and -49 in 1980).
The level of net economic optimism this month, seventeen months into Keir Starmer’s premiership, is the lowest recorded for a Prime Minister at this stage in their tenure.
Ipsos Issues Index: A consistent set of public priorities throughout 2025
Immigration, the economy and the NHS have been the top three concerns for Britons throughout 2025. Between January and April, the economy was the top issue, but since May immigration has topped the list every month, with concern reaching a high of 51% in September.
The December 2025 Ipsos Issues Index sees immigration continuing as the biggest issue facing the country: 46% of Britons mention it as an issue (down 4ppts since November). It also remains the single most important issue facing the country, cited by 27% of Britons.
Immigration remains a particular concern for Reform UK (81%) and Conservative (50%) supporters, those aged 55+ (56%) and people in social grades C2DE (51%). Although it is not mentioned as much, it also remains the biggest issue for 18-34 year olds (38%) as well as those in social grades ABC1 (42%).
The economy and the NHS remain the second- and third-biggest issues, mentioned by 32% and 27% respectively. Concern about the economy has fallen by three points this month, while worry about the NHS has seen a small increase of two points.
Concern about taxation has been rising over 2025 and has entered the top five biggest issues for the country this month. Although just 13% see it as an issue (an increase of just one percentage point since November), this is almost double the level of concern at the start of the year (7%) and the highest score for this issue since September 2000.
Mike Clemence at Ipsos said:
2025 has been a year marked by extremely low public economic optimism. The top three lowest scores on our Economic Optimism Index, which stretches back to 1978, were all recorded this year.
The biggest issues for Britain have been very stable across 2025, with immigration, the economy and the NHS occupying the top three slots every month. But there have been changes across the year; between January and April the economy was top, but since May concern about immigration has risen to the point where, this month, almost one in two Britons see it as a big issue for the country.
Technical note:
- Ipsos' Issues Index is the longest-running gauge of British public concerns. It is conducted monthly and has provided an overview of the key issues concerning the country for over 50 years. The answers are spontaneous responses, and participants are not prompted.
