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Rachel Reeves just saved her own skin – but it’s about to cost us billions

The Chancellor’s incompetence has shown Labour’s true colours

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OPINION

Labour Conference 2025 Day Two

Starmer and Reeves hit an all new low (Image: Getty)

The mood in the House of Commons amongst Labour MPs is funereal. Most have already accepted that they will be voted out at the next general election. Rachel Reeves paces the Commons like a haunted woman on her way to the gallows knowing her time is up. Her second budget – only eight days away – will almost certainly be her last, and Starmer will no doubt follow her out of the door shortly afterwards.

There will be no tears for Reeves. Latest IPSOS polling has her as the most unpopular Chancellor in history, largely due to her first budget – the highest tax-rising one on record – so what her ratings will be after she does the same again next week, Lord only knows. There won’t be any tears for Keir Starmer either, whose poll ratings are now even worse than Andrew Mountbatten Windsor.

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