Keir Starmer dealt blow as Labour plunges below Tories in polls after Budget

Keir Starmer has faced a significant setback just days following Labour's first Budget in almost 15 years, with a shock new poll indicating the Conservatives have taken the lead for the first time since three years ago. The Chancellor, Rachel Reeves, revealed her Budget on Wednesday which swiftly attracted strong criticism for its £40bn tax increase intended to start bridging the fiscal "black hole" attributed to the previous government by Labour.

The series of tax increases outlined included a rise in national insurance contributions for employers and adjustments to the lower and higher bands of Capital Gains Tax.

Reeves has not dismissed the possibility of further tax hikes, labelling it "irresponsible" to do so, but she dubbed the £40bn hike as a "once in a parliament" measure, hoping to steady the nation's finances.

In a stark indication of public sentiment, an exclusive poll for 'i' carried out by BMG Research found that 40% of participants were dissatisfied with the Budget, with only a quarter in support of Reeve's financial strategy.

The survey suggested a bleak outlook for many, fearing they will find themselves financially worse off under Labour than they had been under Conservative rule, with 29% of those asked indicating they'd back the Tories in an immediate general election, reports the Express.

This narrow margin places the Conservatives just ahead of Labour, who secured 28% of the participant preferences. Notably, this is the first instance where a published poll has shown the Conservatives in the lead since December 2021 - the period synonymous with the "Partygate" affair.

Reform UK has seen a three-point drop in the latest polls, slipping from 20% to 17%, but still holding onto third place. The Liberal Democrats are hot on their heels with 13%, followed by the Green Party at 8%.

Starmer's approval ratings have also taken a hit, with only 23% of participants supporting his leadership compared to 49% who are dissatisfied. Despite this, Labour is still more trusted than the Tories on several key issues, including the NHS, housing, education, and welfare.

However, the public is less supportive of some of the measures announced by Reeves earlier this week, such as increasing national insurance contributions paid by employers - a move opposed by 34%. Other unpopular decisions include the previously announced cuts to winter fuel payments and the increase of the bus fare cap from £2 to £3.

Overall, the post-budget mood is one of despondency, with a significant 42% believing they will be worse off and just 16% predicting they'll be better off.