Brits blame Reeves and Starmer for the poor economy more than Brexit and the Tories: Poll
Ipsos has released its latest polling results on perceptions of the British economy and the cost of living, revealing significant continued pessimism and an expectation that Labour is likely to increase personal taxes and government borrowing.
The data shows that three-quarters (76%) of Britons describe the economy as ‘poor’, with only two in ten (21%) considering it ‘good.’ This level of pessimism has been fairly entrenched over the last 12 months.
Almost three in five (59%) Britons who think the British economy is in a poor state think decisions made by Keir Starmer and Rachel Reeves have contributed most.
This is followed by the impact of the Covid-19 pandemic (49%), Britain leaving the EU (46%, up 5 ppts since April), and the state of the global economy (45%). 42% say that the economic policies of the previous Conservative government are most to blame. Donald Trump is less blamed now than in April, after he initially announced the imposition of tariffs (down from 41% to 29%).
Conversely, those who think the British economy is in a good state are most likely to give credit to decisions made by the Bank of England (48%), the productivity of British workers (44%) and the state of the global economy (40%). 38% cite decisions made by the current Labour government.
Eyes on the Budget
When asked about potential future government actions, 77% believe that the Labour Party is likely to increase personal taxes, while 66% foresee increased government borrowing.
The public is split on whether they will increase spending on public services, with 40% believing that they will and 45% believing that they won’t. Similarly, 43% believe they will increase long-term investment spending. Even more, 51%, think they will decrease spending on public services.
Three in five (59%) Britons also think it is likely that if the Conservatives were in government, they would increase the taxes they personally pay. Just over half (53%) believe the same about Reform UK. A majority, although less than under Labour, also believe that the Conservatives (56%) and Reform (52%) would increase borrowing.
However, even fewer believe that the Conservatives (29%) or Reform (34%) would increase spending on public services than think it would happen under Labour.
