Labour looks to have taken a political hit from Rachel Reeves’ desperate efforts to balance the books in the Spring Statement.
A More in Common poll has found the party dropped three points of support over the past week. Keir Starmer’s outfit was on 21 per cent, behind the Tories on 26 per cent and Reform on 25 per cent.
It comes after YouGov found the government’s approval rating has slumped to a joint record low.
The research showed just 14 per cent approved of Labour’s performance, down five points in a week. Meanwhile, disapproval was up eight to 68 per cent – giving a dire net score of minus 53.
Labour insiders have been sounding increasingly worried about local elections and the Runcorn by-election on May 1.
In theory the party should be gaining councillors as the last time they were contested was 2021, the high water mark of Boris Johnson‘s Tory administration.
However, there have been suggestions about a net loss of seats, with concerns that pro-Gaza independents might wreak havoc.
A More in Common poll has found the party dropped three points of support over the past week. Keir Starmer’s outfit was on 21 per cent, behind the Tories on 26 per cent and Reform on 25 per cent
It comes after YouGov found the government’s approval rating has slumped to a joint record low
Ms Reeves was effectively forced to tear up her Autumn Budget last week after the stalling economy and rising debt interest costs.
She announced that spending plans were being trimmed and benefits curbed in an effort to stabilise the finances.
But there is already speculation that Donald Trump’s ‘Liberation Day’ tariffs will destroy her new blueprint, triggering more cuts and tax rises.
Keir Starmer and Ms Reeves have failed to carve out an exemption from the US president’s trade war despite weeks of intense negotiations.
The exact shape of the levies has yet to become clear, although the White House has fuelled global panic on markets by branding them ‘historic’. Mr Trump is thought to be leaving towards ‘big bang’ 20 per cent charge on all imports.
Economists have been warning that could slash up to 1 per cent off UK plc’s growth, potentially smashing the Chancellor’s Spring Statement plans and forcing her to hike taxes again.
Analysis from the Institute for Public Policy Research (IPPR) think-tank has suggested tariffs on car imports would put 25,000 UK jobs at risk and ‘completely destabilise’ the industry.
Meanwhile, there are concerns that cheap goods from countries such as China will flow into the UK instead – causing more problems for struggling manufacturers.
Ms Reeves was effectively forced to tear up her Autumn Budget last week after the stalling economy and rising debt interest costs
