FIX COST OF LIVING CRUNCH OR LOSE ELECTION

Mail poll reveals toll of soaring prices ... and delivers a stark warning to PM

BORIS Johnson must get a grip on the rising cost of living or he will lose the next election, a poll warns today.

Voters want immediate action to help struggling families, including bringing forward tax cuts.

The survey for the Daily Mail found there is also huge support for a windfall tax on the profits of big oil and gas firms.

Many people are already making changes to their daily lives to save money. Most have started shopping around for cheaper food, going out less and not putting on the heating as often, according to the poll. And

an overwhelming nine in ten said the Government’s response to the cost of living crisis will be important to how they vote at the next election.

In a warning shot to the Prime Minister, the survey found that voters think Labour would be better at managing the crisis. In other findings:

Three in four voters think the economy is in a weaker position now compared to six months ago, while half feel their personal finances have got worse;

About two thirds (65 per cent) want the Chancellor to take 1p off the basic rate of income tax for those south of the Border now, rather than wait until 2024;

Six in ten say they have spent more time at home instead of socialising this year amid the cost of living squeeze;

A half say they have worn more layers instead of turning on the heating, a fifth have skipped meals and 20 per cent say they have borrowed money from family or friends.

Mr Johnson yesterday vowed the Government would support the public through the cost of living crisis in the same way as it did through the coronavirus pandemic.

The Prime Minister said: ‘Just as we got the most difficult challenges of Covid right, we got the big calls right, we will get this country through the big challenges now of the post

Covid aftershocks, the pressures caused in particular by the rise in the cost of living.

‘Of course we’re going to get through this and the markets will eventually adjust and new supply will come on and prices will come down again.

‘And in the months ahead, we are going to have to do what we did before... We are going to put our arms around the British people again, as we did during Covid.’

The Government is under growing pressure to act after it was announced this week that inflation had hit 9 per cent – the highest rate for 40 years.

The Bank of England’s chief economist warned that high inflation could last well into next year as disruption to energy and food supplies continue to push up prices. But there is widespread division among ministers on how to address the issue.

The poll, conducted by Savanta ComRes, found older people were more likely to say the economy has got weaker over the past six months, with 84 per cent of over55s thinking it has, compared to 61 per cent of those aged 18 to 34.

Asked what changes they had made to their spending habits since the start of this year, 57 per cent said they had shopped at a cheaper supermarket. Some 44 per cent have walked or cycled more instead of driving, and 26 per cent have changed holiday plans.

Downing Street will be concerned about figures showing that voters believe the Opposition would do a better job at handling the economic situation. Asked which party would be best at managing the increasing cost of living, only a quarter (24 per cent) said the Conservatives, compared to 39 per cent who said Labour.

And just 53 per cent of those who voted Conservative at the last election said they believed the party would be better.

The Government’s response to the cost of living crisis was listed by 90 per cent of respondents as an important factor for how people will vote at the next election.

There is overwhelming support for a windfall tax on the profits of oil and gas firms to support families struggling with energy bills. Three in four (75 per cent) back the idea.

Labour support has dropped one point to 40 per cent compared to last weekend, while the Tories stayed on 34 per cent.

Chris Hopkins, of Savanta ComRes, said: ‘The rising cost of living could well become the defining issue of the next election.

‘While Partygate damaged the Prime Minister’s reputation and poll standings, he was always likely to have opportunities to redeem himself. Helping the country through rising bills and inflation is, in a way, an opportunity for the Prime Minister to do just that.’