Most Brits think tax rises were the largest takeaway from Labour’s first Budget in almost 15 years, according to a new poll.
The findings will come as a blow to the government, who promised they were not returning a period of austerity as they unveiled their plans to raise £40bn on Wednesday.
But over the last two days, Labour have had to contend with a wobble from the markets baulking at the largest tax-rising Budget in UK history, the largest dip in the value of the pound for 18 months and scrutiny over whether Labour breached their pre-election promises not to increase taxes on working people.
While ministers have defended themselves – saying they have stuck to the pledges by only increasing national insurance for employers, not employees – it does not look like that message has necessarily been absorbed by the public.
A YouGov survey found 39% of respondents thought tax rises were in the most notable element of the announcement.
The pollsters asked Brits to tell them in their own words what their main takeaway from the Budget was, and then used their AI Topic Quantifier to categorise it.
Almost one in five (19%) – noticed the National Insurance rise for employers while 13% noticed just a general increase in tax and a further 3% thought the inheritance tax chances were the biggest takeaway.
When it comes to Labour’s efforts to protect “working people”, far fewer spotted it – just 8% noticed the minimum wage rise and only 2% noticed the fuel duty freeze.
Only 1% spotted the 1p off a draught pint, too.
But, it was not all bad news for chancellor Rachel Reeves.
Some of Labour’s policies which are particularly unpopular in political circles did not seem to stand out to respondents at all.
Just 7% mentioned the negative feedback to the Budget, 2% noticed the winter fuel allowance restrictions, 2% noticed the bus fare cap rising from £2 to £3, and 2% spotted the increased capital gains tax.
Only 1% thought the VAT implemented on private school fees stood out and another 1% noticed the increased amount of government borrowing.
Still Labour had been presenting this Budget as one of spending and investment in public services in an effort to “fix the foundations” of the country – but clearly it was perceived as one of taxes and cuts.