We don't mind a tax hike to pay debt, say half of Britons Telegraph.co.uk

However, the public is also united in the belief that the Government is incapable of spending public money wisely, believing only 54p in a pound goes towards serving the "interests and values of British people".

The number in favour of bailing out banks has fallen from half of voters as polled a year ago, to just a third today.

Eight in 10 do not want to see cuts to spending on support for the elderly and two -thirds are against cutting the military budget.

Steven Kull, director of Program on International Policy Attitudes (PIPA) who conducted the poll for the BBC commented: "Although Britons accept the idea of debt reduction, the coalition faces the problem of a lack of confidence in Westminster. As long as citizens think large amounts of public money are being spent in ways that do not serve the public interest, they are going to resist both increasing taxes and cuts to programmes they do think serve them."

The survey was conducted as part of a worldwide study to be released later this month. The results will include the attitudes of 26 nations towards budget deficits.

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