Long‐Term Time Horizons and Support for Public Investment

ABSTRACT Generating public support for long‐term public investment may require understanding what citizens perceive as the “long term” in politics and how these perceptions shape their preferences. Across two studies, we find that UK citizens generally understand “long term” as 5–10 years. These perceptions appear to shape support for a real, salient, recent case of large‐scale public investment: the October 2024 UK budget. Study 1 shows that stating the economic effects of the budget's public investment measures will come “in 50 years' time” rather than “over the longer term” reduces support—with some evidence the effect may be driven by those with the shortest perceived time horizons. Study 2 reveals that when the 5‐year benefits of investment—within voters' typical long‐term time horizon—are known, highlighting its 50‐year benefits lowers support for public investment. But across the board, we find that a majority supports public investment when made aware of its economic effects over any time frame. These findings improve understandings of voters' purported short‐termism in a contingent real‐world context, with implications for the communication of long‐term public policy.