Consumers' biggest economic fear is a prolonged or triple dip recession according to the latest Financial Planning Week survey.
The survey, run by the Institute of Financial Planning in association with YouGov, surveyed over 1,000 people on their attitude to their finances.
Respondents were asked to choose their biggest fear out of a prolonged recession, increased taxes, interest rate increase, universal credit, rising inflation, rising unemployment or below inflation wage increases.
Some 26 per cent said they were most worried about a prolonged recession, rising to more than one in three of people aged over-55.
Other significant fears were rising unemployment, which was more feared by women and those aged 18-24, and increased taxation which worried 14 per cent of people.
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Alan Dick, IFP vice-president and Financial Planner at FortyTwo Wealth Management, said: "This highlights a need for a clear financial plan that includes contingency measures for events such as unemployment while also addressing the risks of inflation and increased taxation.
"Just talking thourgh the extent of any risks and the possible implications may be enough to provide peace of mind. The worst thing anyone can do is worry in silence."
John Ions, chief executive of Liontrust which sponsored the survey, said: "The number of concerns in today's survey perfectly illustrates the level of economic uncertainty we all face. This emphasises the role that financial advisers can play in helping people to manage their finances and navigate their way through this minefield."

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