We have also asked the public across the UK about their confidence in various industries and how much regulation they feel is needed – using the same questions from our MP poll – and we focus on the public’s views in this third and final article.
The public are less trusting than MPs
Overall we found that respondents have positive levels of trust in half of the sectors in our survey. Opticians, food and drink companies, airlines, radio shows/stations and charities all have a positive trust rating and are trusted by more of the public than distrust them.
Pension providers have an average score of 5 – exactly neutral on our 0 to 10 scale
Do industries need more or less regulation?
There is little appetite amongst MPs and the public to loosen regulation, although that is as far as the consensus goes.
On the whole, the public is more favourable to introducing more regulation than MPs are. A majority of the public think that more regulation is needed for half of the sectors tested – gas and electricity markets (68%), gambling (67%), pensions (56%), advertising (54%) and charities (54%).
Amongst parliamentarians, on the other hand, gambling is the only sector for which a majority favours more regulation. For all other industries, most MPs think that current levels are about right.
Opposition MPs’ views closer to the public’s on gambling and energy regulation
We discussed in previous articles that there are significant differences between Conservative and Opposition MPs in their views on the level of regulation thought to be required for food and drink, newspapers and magazines, gas and electricity, and gambling.
The biggest mismatches between the views of the public and of Conservative MPs are for the gambling and energy sector. When it comes to regulating these two industries, Opposition MPs’ views are much more in line with the public’s opinions.
The generational divide
There is a generational divide in opinion as the young and old are split on their views towards five industries. Older people tend to want more regulation than young people in advertising (18-34: 47%; 65+: 60%), charities (18-34: 39%; 65+: 64%); gambling (18-34: 58%; 65+: 77%); gas and electricity (18-34: 57%; 65+: 73%) and pensions (18-34: 43%; 65+: 56%).
This is the third and final part in a three-part series about regulation. The first part discussed MPs’ confidence in markets and regulation. The second part explored MPs’ views on industry watchmen; the effectiveness, funding and remit of regulators.
Populus surveyd 2,096 people between 15-16 June by online questionnaire. Data has been weighted to be representative of all GB adults aged 18+.
Populus surveyed 122 MPs on the Populus MP Panel in March and April 2016 by self-completion online and postal questionnaire.
MP Data is weighted by political party to be representative of the House of Commons.