Rachel Reeves’s popularity has plunged to a staggering new low in a damning fresh poll after she was slammed for catalogue of economic woes. The Chancellor briefly had a net positive favourability rating, where more people viewed her positively than negatively, after Labour’s thumping victory in the 2024 General Election.

But her approval ratings have slumped since then after a backlash against the Government’s controversial decision to slash winter fuel payments for most pensioners and slap inheritance tax on farmers. Now, her approval ratings have hit their lowest ever after a YouGov poll found 62% viewed her positively, compared with 62% who viewed her negatively. The rest said they did not know one way or the other. That puts her net favourability rating at an embarrassing -48% – 7% lower than a month ago and before she delivered her spring statement.

Shadow Chancellor Mel Stride said working families have been “paying the price” for Ms Reeves’s choices.

“Inflation remains above target and we know from official forecasts that price rises are set to increase further this year because of the Chancellor’s choices,” he said on Wednesday after news that inflation had fallen slightly.

“The Conservatives left Labour with inflation bang on target but the Chancellor’s reckless union payouts, tax hikes, and borrowing binge is driving up the cost of living.”