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COVID-19 Vaccine hesitancy decreases in March


The number of individuals within the UK who have a positive sentiment towards the COVID-19 jab has increased to 94%, an increase from 78% when data was initial collected.


At the same time, 6% of adults reported a hesitancy towards the vaccine, a decrease from 9%.


Additionally, the number of parents who lived with a child between the ages of 0 and 4 also saw a reduction in hesitancy to 11% from 16%.


So, despite the news from Europe associated with the banning of the AstraZeneca vaccine and other negativity surrounding said vaccines such as the blood-clot claims and others, vaccine hesitancy has decreased, why?


Well, one likely reason is Prime Minister Boris Johnson, who last month had his COVID-19 jab.


The Prime Minister promoted the vaccine uptake by encouraging the nation to go and have their vaccination taken when needed.


This encouragement would have yielded an increase in confidence around the vaccine, likely leading to increased vaccine uptake as some sceptics may have changed their mind after seeing the Prime Minister encouraging it.


Fortunately, due to the relatively low hesitancy rate, the UK does not have a massive problem with Vaccine hesitancy.


Due to the UK being one of the leading nations when it comes to vaccination rollout, especially in Europe, having a population that shares the same attitude towards vaccines is essential for the success of the rollout.


A successful vaccination rollout will enable the government to follow its roadmap deadlines and this forward guidance will be essential for the UK’s economic recovery.


Data shows that the firms are taking the governments roadmap to heart, for example, business activity has increased in recent months as online job adverts are at an all-time high.


So, a successful vaccination rollout will enable the roadmap to be fully realised with its accurate deadlines, and that is essential for eager businesses who are already preparing to open up to consumers.


If the roadmap is delayed, these businesses will consequently see an increase in costs as they will have had wasted resources on hiring, or bringing workers back to work from Furlough to prepare for the opening of non-essential shops.


Therefore, vaccination rollout will enable the UK economy to open up as planned in accordance with the government roadmap, and, if this successfully occurs, economic agents will see a boost in confidence.


This is because, if the forward guidance is correct, economic agents (businesses and consumers alike) will see that the government was correct, meaning that future guidance will be better received.


Hence, because economic agents make decisions based on animal spirits, an increase in confidence will consequently yield an increase in spending within the economy, thus leading to an increase in aggregate demand.


And this recipe is essential for the recovery and future growth of the UK economy, illustrating why an increasingly positive opinion of the COVID-19 vaccine is extremely beneficial for the nation.

 

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