Two thirds of voters want Reeves to cut spending rather than hike taxes in Budget

A new poll this week found that more than two-thirds of voters would prefer Rachel Reeves cut government spending rather than raise taxes in the budget.

Data from More in Common also shows that the majority of people think Sir Keir Starmer is doing a poor job, but less than one in five think he is doing a good job.

Sir Keir and his chancellor Rachel Reeves face a budget this week, with the chancellor expected to raise taxes to plug gaps in the public finances.

The prime minister’s poll rating of -51 is one of the worst in recent history, according to More in Common. While 68 per cent of Britons think Sir Keir is doing a bad job, just 17 per cent think he is doing a good job.

Meanwhile, just days before the Budget, Chancellor Rachel Reeve’s approval rating is even worse at -52, also the lowest More in Common has recorded for her.

On the other hand, 68 per cent think former chancellor Rishi Sunak would do a better job at the Treasury, and a similar 65 per cent think former chancellor Jeremy Hunt would do a better job than his Labor successor.

The same data shows that two-thirds (67 per cent) of people would prefer ministers to cut spending rather than increase taxes on workers.

Among Labor voters the split in favor of spending cuts was 56 per cent to 44 per cent, while among Reform UK voters the split was 82 per cent to 18 per cent.

Conservative voters favored spending cuts by 75 per cent, while Liberal Democrat voters were split 61-39 per cent.

The scale of the task facing the chancellor this week was highlighted in a Sky News report on Monday morning that the Office for Budget Responsibility had cut its biennial forecasts ahead of the next election in 2026 and 2029.

The downgrade and subsequent reduction in tax revenues will force Ms. Reeves to raise taxes to balance the books and create a larger buffer against future shocks than the historically low headroom she has previously reserved for herself.

Meanwhile, the Chancellor has been warned against imposing a “death by a thousand taxes” on businesses in this week’s Budget.

The head of an influential business group said Ms Reeves should “change course” and avoid imposing costs on firms as she tries to balance the books with her statement this week.

Speaking at the Confederation of British Industry’s annual conference in Westminster on Monday, Rain Newton-Smith called on Ms Reeves to stand up to Labor supporters to make tough decisions on issues such as cutting welfare spending.

He said Ms. Reeves must prove she is committed to economic growth and make tough choices to make it happen.

“Prove it – against the opposition, against short-term policies, whether it’s on welfare, whether it’s pension increases, show the markets that you mean business,” he said

“Short-term policies lead to long-term decline, and this country cannot afford another decade of stagnation.

“This means making the hard choices for growth before it gets even harder, having the courage to make two hard decisions instead of 20 easy ones.

“Increasing the gap needed to deliver on the promises means one or two broad tax increases rather than the death of thousands.”