Trust in governments worldwide slumps to historic low: Survey

Trust in government globally fell to an "historic low" making it the least trusted institution for the third consecutive year, according to a survey released here today as leaders from across the world congregate for the World Economic Forum meeting.
The drop in government trust among informed public was even more dramatic on individual country level basis. If it plummeted to 37 per cent in the United States, it fell to 32 per cent and 45 per cent in France and Hong Kong, respectively, the 2014 Edelman Trust Barometer showed.
"Driven by the decimation of trust in government and not an increase in business trust, the gap (between trust in government and business) was 20 points or greater in nearly half of the 27 countries surveyed, including the US, India and Brazil," the report said.

Trust in business, however, has stabilised at 58 per cent due to the perception that it has made demonstrable change in the form of better products and new leadership, it added.
"This is a profound evolution in the landscape of trust from 2009 where business had to partner with government to regain trust, to today, where business must lead the debate for change," said Richard Edelman, President and CEO of public communications firm Edelman.
Going by the barometer, business is now expected to play a much bigger role around the debate and design of regulation as 79 per cent believe government should not be working alone when setting policy.

A majority of respondents (84 per cent) believe that businesses can pursue their self-interest while doing good work for society.

Seventy four percent of those surveyed feel that businesses should be involved in formulating regulation in the energy and food industries, the survey showed.
There is, however, call for more regulation in several industries including financial services, energy and food & beverage.
Meanwhile, companies headquartered in BRIC nations continue to suffer a trust deficit compared to western-based companies. Companies based in Mexico (34 per cent), India (35 per cent) and China (36 per cent) were trusted least and have seen no improvement over the past five years, the report said.

Trust in CEOs has plateaued, and while they have recovered from a low of 31 per cent in 2009 to 43 per cent this year they still rank seventh out of eight, only above government official (36 per cent), as most credible spokesperson, the report said.
The findings are based on a survey of about 33,000 people spread across 27 markets worldwide. The survey focused on their trust in institutions, credible sources/channels and specific issues and perceptions impacting trust in business and government.