A devastating new opinion poll has revealed that Sir Keir Starmer's Labour government is now trusted less on the economy than the Conservatives were under the brief and chaotic premiership of Liz Truss.
Poll Reveals Staggering Lack of Confidence
The YouGov survey, commissioned by Sky News, asked the public who they would trust with the economy. The results delivered a brutal verdict on the new administration. Only 10 per cent of respondents said they would trust Labour with the nation's finances.
This figure is remarkably lower than the proportion who said they would trust former Prime Minister Liz Truss. During her tenure in October 2022, a month after her mini-budget triggered market turmoil and a spike in mortgage rates, 15 per cent of voters said they would trust the Conservatives with the economy.
The poll, conducted on the 30th of November and 1st of December 2025, interviewed 3,416 adults. It placed the current Conservative Party at 17 per cent trust, Reform UK at 13 per cent, the Green Party at 8 per cent, and the Liberal Democrats at 5 per cent.
Budget Row Fuels Public Distrust
The dire polling emerges amidst a fierce political row over Chancellor Rachel Reeves's statements about the public finances in the run-up to the Budget. The controversy centres on a November press conference where Ms Reeves warned of a dire fiscal situation, hinting at potential income tax rises.
It later emerged that she had not disclosed more positive information from the Office for Budget Responsibility (OBR), which showed tax receipts were significantly better than expected. This preceded her announcement of £26 billion in tax increases.
The poll found that 37 per cent of people believe the Chancellor exaggerated bad economic news before the Budget, compared to just 18 per cent who thought she was honest. A mere 13 per cent believed things were better than she stated.
A Damning Verdict on the Budget's Impact
Public reaction to the recently unveiled Budget measures is overwhelmingly pessimistic. The YouGov survey indicates a profound lack of faith in the government's financial plan.
Only 8 per cent of people think the Budget will leave the country better off, and a minuscule 2 per cent believe it will benefit them and their family personally. In contrast, 52 per cent think the nation will be worse off, and 50 per cent feel they and their family will be worse off.
The fallout has reached the heart of government, with ministers reportedly briefing that they too felt misled by Sir Keir Starmer and Rachel Reeves. One minister described the post-Budget aftermath to The Independent as "less than ideal".
Sir Keir Starmer was forced to defend his Chancellor on Monday, delivering a speech insisting there was "no misleading" by Ms Reeves, even as questions grow about his own leadership future.
