Tick tock. There are less than 48 hours to go until Rachel Reeves’s big Spring Statement on Wednesday and as the Treasury finalises its preparations for the big reveal, YouGov has been running some tax-related tests of its own. In a blow for the reds, the polling company has found that it is becoming more difficult for the Labour lot to blame the Tories for its tax and spend decisions – with an increasing number of people seeing Sir Keir Starmer’s government as responsible for tough tax calls.
In a survey conducted between the 18-19 March, YouGov found that 80 per cent of Brits say UK finances are in a bad state. Almost four in ten would hold the current Labour government accountable for any tax rises announced in this week’s Spring Statement – with just a fifth blaming the previous Tory administration. This marks a change from polling carried out at the time of the July general election, where a third of respondents condemned the state of public finances left behind by the former Conservative government for financial decisions made by Labour. More than that, a dwindling proportion of 2024 Labour voters are bashing the Tories for the tax choices made by Starmer’s army. Reeves may have to rethink her ‘£22 billion black hole’ mantra.
Further analysis shows that four in ten Labour voters would like to see public spending increased, with just 10 per cent of those who backed Starmer last year on side with spending cuts. Meanwhile less than a fifth of all Brits think the government should increase taxes and just a quarter want to see public spending reduced. With the Chancellor’s announcement expected to include regulation and welfare cuts, this latest polling is hardly the best news for Reeves ahead of Wednesday’s big speech…
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