Britons more pessimistic about the economy post budget – though some individual measures supported

• 56% say they are ‘more concerned’ about the economy post budget and 77% expect it to be in a poor state in a years time.
• 55% think Rachel Reeves doing a bad job as Chancellor – her worst rating in the role.
• Freezing prescription charges, cutting energy bills and increases to minimum wage most supported measures.
• Lifting the two-child benefit cap the measure the public have heard of most (along with minimum wage increases) but public divided on whether they support this.
• 50% think the government is increasing taxes too much – but no party leads on being most trusted on the economy.

The latest survey from Ipsos in the UK, taken following this week’s budget, explores public attitudes to the budget overall (and key measures within it) as well as the economy overall.

Reactions to the budget / economy 

• 56% of the public are more concerned about Britain’s economy following the budget, 11% are more reassured and 22% say neither. 53% are more concerned about their own financial circumstances. Almost half are more concerned about Britain’s public services.

• Levels of concern about Britian’s economy are 11 points higher than after the Spending Review in June and equivalent to those seen in at the Spring Statement in March. They are generally higher than levels seen towards the end of the last Conservative government.

• 84% think the UK economy is in a poor state and 77% expect it to be so in a year’s time.
   

What do the public think of key measures?

• The public recognise this as a budget where taxes are being increased. 50% say the government is increasing taxes too much, 22% say the government is not spending enough on public services, 11% think the government is getting the balance about right.
• Our research asked the public how much they had heard of 17 key measures in the budget and whether they supported or opposed them. This chart shows the top 5 and bottom 5 policies the public were most / least aware of and most / least likely to support.

• The public had heard most about the lifting of the two-child benefit cap with 71% hearing a great deal or fair amount about this measure. Meanwhile two-thirds (67%) had heard about increases to the minimum wage and 63% had heard a great deal or fair amount about the freezing of income tax and national insurance thresholds for the next three years.
• Freezing prescription charges (71%), cutting £150 from the average energy bill (70%) and increases to the national minimum wage (66%) were the most supported policies.
• However, lifting the two-child benefit cap is more divisive. 36% support this measure and 40% oppose. Whilst 44% of 2024 Labour voters support this measure, 37% oppose.
• Meanwhile, despite spending increases, 52% think it is true that the UK is currently experiencing a period of austerity.

The political picture 

• 55% think Rachel Reeves is doing a bad job as Chancellor (up 6 points from the start of the month) and just 11% think she is doing well. This is the highest figure for bad job since she became Chancellor.
   

• When asked which party is most trusted to manage the economy, no party has a clear lead – although Reform UK are slightly ahead. Labour’s position has fallen back somewhat since June (-12 points) but we should be careful about attributing this to the budget as their position may have worsened in the intervening period.

Commenting on the findings, Keiran Pedley, Director of UK Politics at Ipsos, said:

These findings show that the overall public mood remains distinctly negative following the budget. A majority of Britons are more concerned about the economy now and three quarters expect the economy to be in a poor state a year from now. Concern about tax is also something to watch with half of the public now saying the government is increasing taxes too much. However, the budget does contain popular measures, especially those that seek to address the cost of living and put money in people’s pockets. Labour will hope they can go out and sell some of the more popular measures in the budget to a sceptical public, to show they are on voters’ side, though the lifting of the two child benefit cap is more controversial. 

Notes to Editors: 

• For media queries, please contact Megan Hitchcock at [email protected]
• Ipsos interviewed a representative sample of 1,043 adults aged 18+ across Great Britain. Polling was conducted online  between the 26th - 27th November 2025.
• Data are weighted to match the profile of the population. All polls are subject to a wide range of potential sources of error.