Rachel Reeves becomes least-rated chancellor on record, Ipsos finds

Rachel Reeves becomes least-rated chancellor on record, Ipsos finds
Credit: PA

UK (Parliament Politics Magazine) – A new Ipsos poll shows Rachel Reeves as the most unpopular chancellor in history, as Labour loses trust on key issues and Reform UK moves ahead.

As reported by The Telegraph, a new poll indicates Labour has lost its status as the most trusted party on crime, healthcare, and environmental issues.

What did the latest Ipsos poll reveal about Labour, Keir Starmer, Rachel Reeves, and Reform UK?

Ipsos survey finds Reform UK leading public confidence on Britain’s EU relations, inequality, housing, and defence policies.

The recent November poll shows Prime Minister Sir Keir Starmer with a net satisfaction of minus 66, while Chancellor Rachel Reeves ranks as the most unpopular chancellor ever, with 71% dissatisfied.

The poll shows two-thirds of Britons doubt Labour’s economic policies will lead to improvement.

According to the survey, Reform UK leader Nigel Farage leads Sir Keir Starmer by eight points as voters’ preferred Prime Minister.

The survey finds voters trust Reform UK more than Labour on asylum and immigration (35% to 7%), crime (24% to 9%), and handling Britain’s EU relations (21% to 11%).

The poll also shows Reform UK leading Labour on major domestic issues, including housing (16% to 12%), unemployment (18% to 10%), defence (16% to 12%), and poverty and inequality (16% to 12%).

The fresh poll reveals the Green Party leading on environmental issues (36% to 5% for Labour), while the Conservatives are ahead on business policies (19% to 9%).

According to the survey, Reform UK leads in voting intention at 33%, while Labour trails at 18%, the Conservatives at 16%, Greens at 15%, and the LibDems at 12%.

The Ipsos poll shows a majority of Britons lack confidence that government measures will boost the economy.

Gideon Skinner, Director of UK Politics at Ipsos, said the findings

“demonstrate the severe difficulties facing Labour ahead of the Budget, as they find themselves unable to turn around a deep public sense of national decline.”

He stated,

“On top of continued record unhappiness with Keir Starmer, Rachel Reeves’ satisfaction ratings have also hit a record low this month, the worst for any Chancellor since we started monitoring in 1976.”

Mr Skinner added,

“This comes in the context of persistent economic anxiety, with more people today struggling to cope than we were seeing in 2022 when the cost of living crisis first started to bite.”

He said,

“In fact, historically we’ve only seen similar levels of scepticism over the government’s long term economic plans in the last years of the Major and Sunak governments, and under Brown after the financial crash.”

Mr Skinner continued,

“Meanwhile, Reform UK continue to hold a steady lead in voting intentions, helped by this frustrated desire for change and their own strengths on immigration and (to a lesser extent) on crime – though it should still be noted that many of the public do not see them – or indeed any party – as having the answers either on many issues.”

The poll marks Labour’s lowest point since May 2009, when public trust declined following the expenses scandal and financial downturn.

Mr Skinner said,

“That was a one-off nadir that they did recover from to some extent, denying the Conservatives a majority in 2010, which might be of some minor comfort to Labour.”

He stated,

“However, present circumstances are different – record low satisfaction ratings for the PM and Chancellor, years of deep public pessimism over the state of the country, economy, and public services, and a more fragmented political landscape with new challengers on all sides at the same time as a ‘none of the above’ public mindset.”

Mr Skinner added,

“So while there is still time before the next election for Labour to try to turn things around, the challenges are much greater now.”

The survey comes after the recent Downing Street briefings row, amid allegations that Health Secretary Wes Streeting intends to oust the Prime Minister.

It also precedes the upcoming budget, with the survey showing Rachel Reeves as the most unpopular Chancellor.

What did the YouGov survey reveal about Keir Starmer’s leadership?

The YouGov poll shows that 27% of adults believe Keir Starmer should remain as Labour leader. Meanwhile, 51% think he should stand down, and 23% are unsure.

Another YouGov MRP model projects Reform UK would win 311 seats, just 15 short of a parliamentary majority. Labour is expected to take 144 seats, the Conservatives 45, Liberal Democrats 78, SNP 37, Greens 7, and Plaid Cymru 6.