Nearly half of Welsh adults worried about family’s finances, report finds

Nation.Cymru staff

Nearly half of adults in Wales are worried about their family’s financial security, with economic insecurity emerging as one of the defining issues behind the 2026 Senedd election, according to a new report.

Research by the Wales Governance Centre at Cardiff University, published by the Bevan Foundation, found that 43% of Welsh adults are either “fairly” or “very” worried about their family’s economic security, while one in four would struggle to cope with an unexpected £200 bill without hardship.

The report, based on a two-wave YouGov survey of 3,800 adults conducted around the Senedd election, suggests financial anxiety extends well beyond the lowest-income households and is closely linked to political attitudes and voting behaviour.

Researchers found almost half (49%) of respondents lacked confidence they would have a decent standard of living in retirement, while 40% were worried about their household income over the coming year. Debt and housing costs also remained major concerns.

The study found economic insecurity peaks among people aged between 40 and 45, mirroring trends previously identified across Britain.

Those most likely to experience insecurity included renters, disabled adults, households with children and people with little or no savings.

Among social renters with no savings, more than 60% reported worrying about their family’s financial security, while two-thirds said they would struggle to meet an unexpected £200 expense.

The report also identified a strong link between financial insecurity and political disengagement.

People who believed politicians did not care what they thought and that it made little difference which party was in power were 26 percentage points more likely to feel economically insecure than those who did not share those views.

Electorally, the findings suggest economic insecurity played an important role in the 2026 Senedd election.

Reform UK and Plaid Cymru voters reported the highest levels of economic insecurity across almost every measure, despite the two parties occupying very different positions politically.

The report found Plaid and Reform supporters experienced almost identical levels of economic worry, but differed sharply in how they viewed politics.

Nearly 80% of Reform voters reported feeling politically powerless, compared with 49% of Plaid supporters. Researchers suggest Plaid voters are more likely to believe the Senedd can address their concerns, while Reform supporters have little confidence in either the Welsh or UK political systems.

The findings also challenge assumptions that financially insecure voters favour a smaller state.

Increased spending

Instead, respondents experiencing economic insecurity were significantly more likely to support increased spending on pensions, disability benefits, unemployment support and childcare, while showing less support for increased defence spending. Support for higher NHS spending remained strong across all groups.

The report concludes that economic insecurity has become “a mainstream condition of Welsh life rather than a problem confined to its poorest households.”

It argues that financial insecurity is driving support for both Plaid Cymru and Reform UK, with economic anxiety providing “a common wellspring from which radically different political destinations emerge”, while broader political values and national identity determine which direction voters ultimately take.