After Jeremy Hunt’s budget announcement, an Opinium poll reveals a decline in Conservative Party support amidst voter concerns over potential tax hikes and Rishi Sunak’s benefit cut proposals to fund NIC elimination.
In the aftermath of Jeremy Hunt’s budget revelation, an opinion poll conducted by Opinium for the Observer has documented a decline in support for the Conservative Party, alongside increasing public concern over potential tax hikes. Despite the budget’s aim to project economic growth and include tax relief measures like a reduction in national insurance contributions, the perception among voters is that taxes are more likely to rise. This has resulted in the Conservatives losing two points in the polls, while the Labour Party has extended its lead to a 16-point advantage over the Tories.
Adding to the economic discourse, Rishi Sunak has proposed a plan to potentially cut benefits as a means to finance the complete elimination of national insurance contributions (NICs) by the end of the next parliament. This proposal, first hinted at during the spring Budget by Jeremy Hunt, is part of Sunak’s broader ambition to simplify the UK’s tax system by removing what he terms as the “unnecessary complexity” surrounding NICs. However, this approach has drawn criticism from the Labour Party due to the significant financial implications it may have on the Exchequer.
The potential reduction in working-age benefits, as outlined by Sunak in an interview with The Sunday Times, is projected to fund the tax cuts. This strategy has been met with skepticism, particularly concerning its impact on individuals classified as unfit for work. Sunak’s focus on reforming the tax system and addressing the welfare bill’s foreseen increase highlights the current government’s fiscal challenges, especially in light of the Conservatives’ lagging support in recent opinion polls.
