Poll finds Rachel Reeves is the least trusted politician in Britain on the financial system after Chancellor’s enormous tax raid helped crush development
Rachel Reeves is the least trusted politician when it comes to the economy, according to a poll.
The Chancellor has been handed the dubious accolade just days before she is due to deliver a critical Spring Statement.
Research by Opinium found Ms Reeves had a net score of minus 38 when Brits were asked whom they trusted on economic and financial matters.
That was worse than Keir Starmer on minus 32, and Nigel Farage, Kemi Badenoch and shadow chancellor Mel Stride – on minus 22, minus 23 and minus 24 respectively.
Overall the Conservatives had a two-point lead over Labour on who would be best to run UK plc, four points on setting tax levels, and eight points on improving conditions for business.
Research by Opinium found Rachel Reeves had a net score of minus 38 when Brits were asked whom they trusted on economic and financial matters
The results appear to reflect widespread anger at the huge tax raid by Labour after the election – far bigger than was flagged in the party’s manifesto.
Despite pledging there would be no increase in national insurance, the government piled pain on to the element of the levy paid by businesses.
That has been partly blamed for the sharp economic slowdown in recent months, alongside chaos from Donald Trump’s trade war.
A Survation poll for Labour Together last week suggested that Ms Reeves is also carrying the can among the party’s members. She ranked lowest out of all Cabinet members.
Experts believe Ms Reeves needs to fill a £10billion black hole in the public finances – or possibly more – on Wednesday despite already having announced £5billion in curbs to benefits.
Her Autumn Budget plans have been trashed by an alarming slowdown in economic growth and rising debt interest costs – with fears the national insurance raid and Donald Trump’s trade war are about to make things worse.
But Ms Reeves has flatly ruled out increasing taxes again in this package, meaning the money will need to be found from spending cuts.
That could fuel a burgeoning revolt among Labour MPs horrified at ‘austerity’.
‘We’re not going to be doing tax raising,’ Ms Reeves told the Sun on Sunday.
‘We did have to put up some taxes on businesses and the wealthiest in the country in the Budget,’ she said of the Autumn Budget last year.
‘We will not be doing that in the Spring Statement.’
James Crouch, head of policy and public affairs research at Opinium, said: ‘Rachel Reeves faces an uphill battle convincing a sceptical public that the government is on the right track.
‘Heading into her Spring Statement, the chancellor is the least popular cabinet member, with even Labour voters disapproving of how she is running the Treasury.
‘The question is whether she has a plan to buy time before making tough tax-and-spending decisions in the Autumn Budget.’
Ms Reeves’ score was worse than Keir Starmer on minus 32
Nigel Farage was also in negative territory, but not as bad as Ms Reeves
