Corbyn and McDonnell are 33 points behind May and Hammond on economic competence

Amid economic chaos, voters still trust the Tories more than Labour


It’s the week of the Autumn Statement, the government is facing a £100bn black hole in the budget, and neither the Prime Minister nor the Chancellor is remotely prepared for the economic consequences of Brexit.

And yet, according to new ICM polling, 48 per cent of the public believe that Theresa May and Philip Hammond are best-equipped to manage the economy, compared to 15 per cent who feel Jeremy Corbyn and John McDonnell would be better.

Even among Labour voters, just 34 per cent believe the party’s leadership team is more economically competent, compared to 28 per cent who back May and Hammond.

That’s a six-point lead for the Labour leadership among Labour voters, while the Conservative leadership holds an 88-point lead among Conservative voters.

Although polls should be taken with a pinch of salt, this must be read as a serious indictment either of Labour’s economic policy, or of the leadership’s capacity to communicate its ideas to the public.

As ICM’s Martin Boon outlines:

“It’s hard to think that the current Labour team can change so many minds, unless Brexit undoes the solid impression of Tory economic competence. Their 33-point deficit is worse than any endured by the two Ed’s of Miliband and Balls, who improved on this measure from their low point of a 27-point deficit, but not by any means enough to challenge Cameron and Osborne in the 2015 election.”

In terms of net approval ratings, May holds a 56 point advantage over Jeremy Corbyn (+22 to -34). Just one in five respondents believe the Labour leader is doing a good job.

See also: Dear Philip Hammond: Stop the cuts and back the NHS in Autumn Statement

7 Responses to “Corbyn and McDonnell are 33 points behind May and Hammond on economic competence”

  1. Michael WALKER

    Amid economic chaos, voters still trust the Tories more than Labour

    Yes unemployment is skyrocketting, retail sales are falling, the economy is shrinking and car sales have hit a record low.and employment shows record lows.. all signs of economic chaos…

  2. Imran Khan

    ” Although polls should be taken with a pinch of salt”. If that is the case what is the point ofthis article? ” this must be read as a serious indictment either of Labour’s economic policy, or of the leaership’s capacity to communicate its ideas to thepublic”. I tend to think that the latter is the case and for good reasons.

    Corbyn and his Shadow Chancellor are being judged on their records. Both are closley related to organisations and failed economic models that the majority of voters have rejected and continue to. Both are linked to statements they have made in support of groups that whatever the left think about them are perceived by the majority of people as being terrorist.

    No amount of boasting about the massive increase in party membership will change the situation. The Tories can weather a hard Brexit and still win the next election and the possible deselection of Hilary Benn won’t help improve Labour’s image as the party of the loony left.

  3. Perry525

    It is a sad fact, that since the 1970’s Labour moved gradually towards the far right and supported neo-liberal/Conservative/EU policies. The electorate remained Left wing Labour, and stopped voting as reality took hold…there was nothing to choose from, both main parties were singing from the same sheet. Move forward to 2010 – nothing had changed and Labour lost, 2015 ditto.
    We need a Labour party that understands what Labour did after the war.
    We need a Labour party that clearly explains to young people the difference Labour can make to their lives – most have no idea what options are available, how self interest and profit motivate the Conservatives how it is EU and Conservative policy to lower wages and remove health and safety regulations to increase the profits of the share holders.
    Most of all, we need a Labour party that explains New Monitory Theory to the electorate, that makes it clear that bailing out the Banks using Quantitative Easing did not cost the tax payers a penny and does not cost a penny now. To explain that it is the Governments responsibility to create jobs to repair roads, build houses and encourage the UK owners of massive savings to invest to create jobs to make more money, to give Councils and the NHS money to create simple jobs to ensure that anyone who wants to work can have a job. Just like Clement Richard Attlee did after the war.

  4. Imran Khan


    This is why Labour are unelectable. People like you who can’t spell, punctuate, construct a sentence or think.

  5. Michael WALKER


    You DO realise that Mr Atlee after the war cut wages and spending severely to pay for Government spending . He (or rather his Chancellor)also said the supply of money was not infinite and if you wanted more Government spending you had to pay for it.?

    Because if you quote Atlee as your guide, he would be appalled at spending Government revenues on non British citizens, people not working for years and receiving welfare benefits and QE – amongst other things.

    “n 1948 Labour chancellor Sir Stafford Cripps introduced an austerity budget including a wage freeze. He told the TUC congress, “There is only a certain sized cake. If a lot of people want a larger slice they can only get it by taking it from others.”|”

Comments are closed.