Truss’s approval rating plummets following mini-budget turmoil

Half the public believe Chancellor Kwasi Kwarteng should quit after tax cuts cause havoc in the markets.

01 October 2022

Liz Truss’s approval rating has plummeted in the wake of the financial market turmoil which followed Chancellor Kwasi Kwarteng’s mini-budget, according to a new opinion poll.

Opinium’s latest survey found more than half the public – 55% – disapprove of the job she is doing against just 18% who approve – a net rating of minus 37.

Support for Mr Kwarteng showed a similar drop, with 55% disapproving against 15% approving – a net rating of minus 40 – down 30 points on a week ago.

Chancellor Kwasi Kwarteng
Half of the public believe Chancellor Kwasi Kwarteng should quit (Aaron/PA)

Half – 51% – thought he should quit against 18% who want him to stay, while almost as many, 48%, want Ms Truss to go with 26% saying she should carry on.

In contrast, Labour leader Sir Keir Starmer has seen his rating rise with 38% approval against 29% disapproval – a net rating of plus nine, up from minus four last week.

Overall, Labour has opened up a 19-point lead over the Tories – with support for Sir Keir’s party up seven points on 46% while the Conservatives are down seven on 27%.

On the economy, just 20% think the Conservatives are best placed to handle it, down 10 points on the week, while 39% believe it would do better under Labour, a 10-point rise.

It means that in the space of a week, a one-point lead for the Tories on the issue has turned into a 19-point advantage for Labour.

:: Opinium Research carried out an online survey of 2,000 GB adults aged 18 and over between September 28-30.

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