Truss’ government unpopular
LONDON: Britain’s opposition Labour Party has extended its lead over Prime Minister Liz Truss’ Conservative Party to 19 points, an opinion poll by market research company Opinium showed on Saturday, on the eve of the Conservatives’ annual conference.
Opinium’s is the latest in a series of polls to show a growing Labour lead after investors baulked at unfunded tax cuts in finance minister Kwasi Kwarteng’s September 23 fiscal statement, forcing the Bank of England to step in to stabilise markets.
The Opinium poll, based on a survey of 2000 British adults between September 28 and 30, showed support for Labour had risen to 46%, up by 7% points since the last poll on August 31September 2, while Conservative support dropped by the same amount to 27%.
Some 55% of those surveyed disapproved of the job Truss was doing, versus 18% who approved, a negative net approval rating of 37.
‘‘Liz Truss has managed to reach the depths of the poor personal ratings of both Theresa May and Boris Johnson at the end of their tenure, within weeks of taking office and within days of her government’s first major action,’’ James Crouch, Opinium’s head of policy and public affairs, said.
Meanwhile, Kwarteng is facing calls for an official inquiry following a report that he attended a private Champagne reception with hedge fund managers who would stand to gain from any collapse in the pound that followed his minibudget.
The Sunday Times reported Kwarteng joined the gathering at the Chelsea home of a City financier on the evening of September 23, where he was said to have been ‘‘egged on’’ to commit to his plan for £45 billion ($NZ90 billion) of unfunded tax cuts.
The following Sunday, in a BBC TV interview, the chancellor of the exchequer declared there was ‘‘more to come’’, a comment that was blamed for helping to spook the markets, driving the pound, which was already falling, to a record low against the US dollar.
Liberal Democrat Treasury spokeswoman Sarah Olney said: ‘‘While struggling homeowners saw their mortgage bills spiral, it seems the chancellor was sipping champagne with hedge fund managers profiting from the falling pound.
‘‘How out of touch can you get? We need an official inquiry into this now.’’
However, a source close to the chancellor dismissed any suggestion of impropriety regarding his attendance at the reception. — Reuters/BPA