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Labour has received a welcomed poll boost after Rachel Reeves delivered her maiden Budget.
Despite producing the biggest tax raising Budget in history, the chancellor has managed to engineer a soft landing with the British public, with support for her party jumping to the highest level in a month.
According to the latest Techne UK tracker poll for The Independent, Labour has gone up a point to 30 per cent, its highest since 4th October when it was on 31 per cent.
The Conservatives, meanwhile, remain on 24 per cent, while Nigel Farage’s Reform UK lost a point to drop to 18 per cent.
Sir Ed Davey’s Lib Dems were up one to 14 per cent and the Greens unchanged on 7 per cent.
Techne UK chief executive Michela Morizzo suggested that Ms Reeves’ Budget was “good politics” and has helped her party.
She said: “With the Autumn Budget statement, the Labour Party has demonstrated to have an idea of politics. Anyone can agree or not with this vision, but at least there is something to discuss about. And this is good news after a period of great stalemate.
“Voters reward the government by increasing trust in the government itself by one percentage point and the same goes for support for the Labour Party (30 per cent).
“With regards to the Budget itself, from my experience, in the short term, increased spending on the NHS and education will support public services and domestic demand growth. Minimum wage increases will boost purchasing power, which a positive impact on consumption. However, higher corporate taxes and new capital gains tax rates could dampen small and medium-sized businesses, limiting new hiring and investments.
“In the medium term, the Budget aims to create a more stable and resilient economy. New additional property taxes and inheritance taxes help shift resources towards more productive uses. However, the reduction in tax incentives for farmers may create economic strains, especially in rural regions.”
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