Rishi blow as half of voters say Tories doing a bad job on economy

MORE than half the public believe the Government is doing a bad job on the economy following Rishi Sunak’s tax-raising Budget, a Mail on Sunday survey shows.

Even among those who voted Tory at the last election, it found that more think Ministers are doing a bad job on the economy than a good one – 40 per cent to 24 per cent.

More than a third (41 per cent) believe household finances will suffer. And more than half (55 per cent) expected their situation to get worse over the next year.

However, our respondents’ assessment of the economy’s prospects was even more bleak.

More than three-quarters (76 per cent) say the UK’s economic situation is weak, including nearly four out of ten (38 per cent) who described it as very weak.

Nearly two-thirds (63 per cent) thought it would get worse over the next year, including nearly a third (30 per cent) who thought it would get a lot worse.

The Autumn Statement has been criticised for punishing middle and higher earners.

The Government’s independent forecaster, the Office for Budget Responsibility, said the tax burden would rise to its highest since 1945 and, once rising prices are taken into account, household income would fall by 7 per cent over the next 18 months.

Tory MPs fear that tax rises and spending cuts will harm the economy as it enters a recession.

Public anxiety about the cost of living tops the list of issues facing the country as a whole (75 per cent indicating it was their main concern) and individuals (70 per cent).

Eight out of ten (80 per cent) worry about their cost of living rising in future, including a third (33 per cent) who are very worried.

The economy came second and the NHS third on the list of concerns. The only spending respondents said should be cut was overseas aid.

Just under half (47 per cent) supported the Budget overall, and 37 per cent said it did not go far enough. More than a third said it was fair (42 per cent), while a third felt it was unfair (33 per cent).

The blame for the UK’s economic woes lies with the war in Ukraine and Covid according to most. Just under a third blame Brexit (32 per cent).

Labour maintained a lead of around 26 points over the Conservatives, and were judged to be best on the economy (44 per cent to 34 per cent).

In terms of the policies announced in the Autumn Statement, the higher living wage was most popular (82 per cent), along with pensions and disability benefits rising in line with inflation (79 per cent) and increasing the NHS budget (77 per cent).

Deltapoll interviewed 1,604 adults online from November 17 to 19. Director Joe Twyman said the Tories had to ‘improve their reputation for economic management’ to win again.