Nearly a third of people are financially worse off than they were last year, according to a new poll.

More whites than blacks say they've been hit in the pocket over the past 12 months, as the whole population continues to have little faith in the direction of the economy.

However, despite almost non-stop reports of the global recession and its impact on Bermuda, more than half of voters say their finances are no different to a year ago.

Fifty-five percent of people told pollsters Mindmaps they are financially the same as last year, with 29 percent saying they're worse off and 16 percent better off.

Among whites, 41 percent are now worse off, with 48 percent unchanged and 11 percent better off. Among blacks, 25 percent are worse off, 58 percent unchanged and 17 percent better off.

The younger generation appears much less affected, with just 19 percent of 18- to 34-year-olds saying they're worse off than a year ago. The worst hit age group is the 45 to 54 bracket, of whom 42 percent are worse off.

Women have taken more of a hit than men, with 32 percent worse off, compared with 26 percent of men.

People were also asked whether they are confident in the direction of the economy, with 18 percent saying yes, 48 percent saying no, and the rest undecided.

Seventy-two percent of whites said they're not confident, with just eight percent confident; 41 percent of blacks were not confident, with eighteen percent confident.

Meanwhile a second question showed the economy is still considered the second biggest issue facing the Island, after crime.

Reacting to the results yesterday, Shadow Finance Minister Bob Richards said the two issues are intertwined.

"What stands out for us is something we have been talking about for a long time: the links between crime and the economy and people's confidence in Bermuda," said Mr. Richards.

"Crime has got worse and so has the economy. In these two fundamentally important areas, the government has not performed well. It has been soft on crime and it has mishandled the economy.

"When crime was spiking upward and morphing into shooting wars, the Government was picking fights with the Governor and not paying Police wages. When the recession was on the horizon, the Government did not prepare.

"The chickens are coming home to roost and this is reflected in people's lack of confidence about the future.

"I think the point for all Bermudians to consider in this light is that performance matters. It is essential we have a Government that performs well. We've not had that and the poll results reflect it."

Bermuda Democratic Alliance chairman Michael Fahy pointed to Government's new US dollar public bond offering that raised $500 million when it came in six times oversubscribed.

He said the initiative is yet another future debt burden for taxpayers.

"It is no surprise that only 18 percent of registered voters are confident in the direction that Bermuda's economy is headed," said Mr. Fahy.

"Whilst the current administration is excited that the recent bond issue was oversubscribed, it is sad indeed that the people's tax dollars have been managed to the point that a bond issuance is required at all.

"This is just one of many glaring examples of why there is a lack of confidence in our economy. The BDA has exciting plans and we are continuing to build on these, which will assist our economy and empower the people of our country.

"We will however continue to remind the voter that every time more debt burden is taken on by the current administration the taxpayer will need to eventually pay.

"Fiscal responsibility must be the words of choice along with dynamic plans to drive the economy forward to inspire confidence in Bermuda's future."

Mr. Fahy said these include diversification in the economy through new financial services, exploring ways of taking certain Government services out of the hands of Government, leasing or selling assets to small businesses and exploring alternatives to the current tax structure.

"It is time to think carefully about our future — failing that our children will be burdened with the mistakes of this administration," he said.