British wellbeing took smaller hit from world’s financial crisis

THE EFFECTS of the financial crisis are still having an impact on peoples’ wellbeing around the world, according to a major study by the Organisation for Economic Co-operation and Development (OECD).

The OECD’s report, released yesterday, shows that life satisfaction has fallen in many developed countries, but the UK’s result shows a slight improvement between 2007 and 2012. 64 per cent of people said they were satisfied with their lives last year, in comparison to 63 per cent in 2007, and above the OECD average of less than 50 per cent.

Surprisingly, the number of people who say they trust the government has also risen, up from 36 per cent in 2007 to 47 per cent in 2011.

In comparison, Greece’s life satisfaction has been hammered by their protracted recession, falling from 59 per cent to 34 per cent between 2007 and 2011.

In the troubled Mediterranean country, only 13 per cent of people say that they trust their government, a third of the number than did before the crisis.