Investor confidence drops to lowest level since April

Confidence has now fallen 10 points since July, when the Index reached 52, with no sign of a recovery following August's sharp decline.

Sentiment towards the UK economy saw the biggest fall in October, dropping from -28 to -40.

The decline was particularly pronounced among higher-income investors. Confidence among those with household incomes of £80,000 or more fell six points from 53 in September to 47 in October. This is down from 64 in July, narrowing the gap between highest- and lowest-income investors to just six points.

The October findings, collected over the entire month, indicate that investors were becoming more concerned about the economy and financial markets, even before the Budget was announced.

Investors remain active despite falling confidence

Despite falling confidence, investors continued to make changes to their portfolios in October.

In October, 23% of fund investors made changes to their investments, with 44% of those who made changes increasing the amount they had invested.

There was also a slight reduction in defensive behaviour. Among investors making changes, 19% moved more money into cash, down from 25% in September, while 22% increased their exposure to defensive assets such as bonds and income funds, compared with 29% the previous month.

Budget adds to concerns about personal finances

An immediate post-Budget snap poll of Boring Money readers** shows that the Chancellor’s decisions dented confidence in their personal finances.

While 49% of readers feel positive about their own finances, just 8% say the Budget has had a positive impact on how they feel about their finances over the next 12 months.

Three in ten readers (30%) say they intend to cut back on spending as a result of the Budget.

Savings tax rise sparks strongest opposition

The proposed increase in tax on savings income emerged as the most unpopular Budget measure, with 82% saying they disagreed with it.

Meanwhile, 39% say they plan to pay more into ISAs or other investments as a result of the announcements, making this the most commonly cited planned action.

Holly Mackay, CEO and Founder at Boring Money comments:

Notes to editors

Boring Money Insights is an independent financial and investment research, data and publishing business.

*The Boring Money Investor Confidence Index is published monthly and tracks sentiment among UK fund investors aged 18 and over across four measures: the investor's personal financial situation, the UK economy, and the outlook for both global stock markets and the FTSE 100. The index has been tracked quarterly since 2020, with a sample size of between 1,500 and 1,614 respondents per quarter. The Index began in April 2026, with sample sizes of 500+ each month.

** 100 responses from Boring Money readers, fieldwork 28 to 31 October 2026.