‘Lack of trust has negative affect on economy’

Some 30% of the population do not trust their friends and family and 75% have no faith in politicians, according to figures published by the national trust monitor on Tuesday, reports the Telegraaf.

Banks and financial institutions are also mistrusted (60% of those questioned) and 25% of businesses say clients are less trustworthy today than five years ago, reports the Telegraaf.
Reacting to the survey, Robert Mosch, spokesman for the central bank told the paper that low levels of public confidence can have an adverse effect on the economy: ‘A 10% rise in confidence leads to a positive effect of one percent in terms of economic growth and indeed the opposite is also the case.’

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