The shocking graph that Rachel Reeves doesn’t want you to see | Politics | News
Rachel Reeves will present her second Budget this afternoon as the least popular Chancellor in this country’s history. According to Ipsos records dating back to the 1970s (before the Winter of Discontent), only 11% of British voters are satisfied with the way he is doing his job.
This rate decreased by 23 points from 34% in July last year. Surprisingly, Ms Reeves’ approval rating is even lower than Liz Truss’s Chancellor, Kwasi Kwarteng, who delivered the infamous Mini Budget in 2022 that crashed markets and forced the duo out of power in less than 50 days. At his lowest, Mr Kwarteng received support from 12% of British voters.
Oddly, British voters appeared much more supportive of Ms Reeves’s predecessor, Dennis Healey, during the Winter of Discontent in 1978.
Despite power cuts, a three-day week, bins not collected for weeks and bodies piling up in cemeteries, Mr Healey had a 67% approval rating for his approach to the job, although he was sacked in a Conservative Party landslide the following year.
Before Kwasi Kwarteng and Liz Truss, the lowest approval rating on record for a Chancellor was Norman Lamont in 1994, following the chaos of Britain’s exit from the Exchange Rate Mechanism.
But despite runaway inflation and political chaos, Mr. Lamont’s support remained six points above Ms. Reeves’ at 17%.
This morning the Chancellor posted a video on social media outlining today’s Budget ambitions and insisting his first Budget was bearing fruit.
The Chancellor reiterated the aims of his second fiscal event: to reduce living costs, debt and waiting lists.
He insists his medicine is working because wages are rising faster than inflation, waiting lists are shrinking and the economy is growing.
But he says he knows “there’s still a lot to do.”
“I know people are frustrated with the pace of change or angry at the unfairness of our economy.”
He once again blames austerity policies, Brexit and Covid for the problems in the economy.
“This Budget is for you, the British people, so together we can build a fairer, stronger and safer Britain.”
