50% say Govt doing poor job

One in two people think government is doing a poor job managing the economy, while only ten per cent think it is doing a good job, according to a Market Facts & Opinion (MFO) Consumer Economic Sentiment report.

The survey, released yesterday and presented to MFO clients at the Marriott Courtyard Hotel, Invaders Bay, Port of Spain compared sentiment between the current and previous years, noting government’s plummeting popularity as the country went through a prolonged economic downturn.

Last year, 15 per cent thought government was doing a good job and 38 per cent thought it was doing a poor job. Fifty-four per cent also believe government was responsible for TT’s current economic situation, up 12 points from 42 per cent last year.

MFO conducted its survey in two waves, in order to gauge a year-on-year sentiment. The first wave of interviews was conducted in November 2016 among 815 people. The second, in June this year, was conducted among 614 people. MFO said the survey’s demographics were aligned to census data, including household, age and gender and was conducted throughout TT.

FEAR OF GETTING SICK

The survey found that more than losing their jobs, people are afraid to get sick, with one in three families reporting problems paying for healthcare.

This fear was compounded by the fact that seven out of ten did not have emergency savings or the equivalent of three months’ income.

These people, classified by MFO as “the strugglers”, were most likely to be East Indian, women, single parent and in the 25-55 range. The survey found that people are also more willing to take responsibility for the state of the economy, with 39 per cent saying that as individuals, they are the ones to blame, up from 30 per cent last year. Thirty-eight per cent blamed “lazy people.”

TT STILL THINKS ALONG RACE

The key takeaways from the survey, MFO chairman Noble Phillip, said, are that partisan views remain.

“Using the data, I can tell you off the bat that if you are an Indian person you are more likely to think Government is doing a poor job. If you are African, you would think they’re doing a good job,” Phillip said.

There was also a significant economic gap and income inequality is considered unfair. “Eighty per cent say it’s a problem and widening, that’s why you see the resonance of the ‘one per cent’ talk.

“The country is not only divided on ethnicity and politics but fairness and opportunity.”

But there is hope. The last main takeaway, Phillip said, is that all is not lost. One third of those surveyed still believe that despite the tough times, everything is going to be okay.