A new poll by Electoral Calculus and Find Out Now looks at immediate reaction to the budget delivered on 26 November.
Key findings:
The table shows the breakdown of responses to question one, by political party vote in the general election of 2024.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Yes, I have heard something | 54% | 59% | 75% | 55% |
| No, I haven't heard anything | 40% | 36% | 21% | 35% |
| Don't know | 6% | 5% | 4% | 10% |
To begin with, we first asked whether they had heard any of Rachel Reeves's statement. Just over half of voters, 54pc, say they have heard something about what she said, while 40pc have heard nothing and 6pc are not sure. Awareness is highest among Conservative voters, where 75pc say they have heard something and only 21pc say they have not.
The figures for Labour and Reform supporters are closer to the national picture, with 59pc and 55pc respectively saying they have heard something and 36pc and 35pc saying they have not.
We then asked the public if they thought the Budget was fair or unfair.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Very fair | 2% | 5% | 1% | 0% |
| Fairly fair | 11% | 24% | 7% | 6% |
| Fairly unfair | 19% | 19% | 32% | 17% |
| Very unfair | 29% | 13% | 38% | 52% |
| Don't know | 39% | 39% | 23% | 25% |
| Net fair | 13% | 29% | 8% | 6% |
| Net unfair | 47% | 32% | 70% | 69% |
Nearly half of people (47pc) say the budget is unfair, while only 13pc say it's fair. Labour voters are split, with 29pc saying the Budget is fair and 32pc saying it's unfair but almost four in ten (39pc) don't know.
Supporters of the Conservative and Reform parties are more critical, with 70pc and 69pc respectively saying the Budget is unfair.
We then ask people if they think taxes are too high or too low after the Budget.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Much too high | 19% | 7% | 27% | 39% |
| Too high | 32% | 28% | 50% | 27% |
| About right | 12% | 25% | 9% | 10% |
| Too low | 5% | 7% | 0% | 4% |
| Much too low | 1% | 2% | 0% | 3% |
| Don't know | 31% | 31% | 14% | 17% |
| Net too high | 51% | 35% | 77% | 66% |
| Net too low | 6% | 9% | 0% | 6% |
After the Budget, 51pc of voters say taxes are too high, compared with just 6pc who think they are too low. Labour supporters are softer but not exactly content, with 35pc saying taxes are too high, which is more than the 32pc who think taxes are either too low or about right.
Among Conservatives and Reform voters, 77pc and 66pc respectively say taxes are too high, with almost nobody in either party thinking they are too low, which shows how strongly discontent over the tax burden now sits on the right.
We then asked people whether they thought the overall level of government spending was too high or too low.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Much too high | 23% | 9% | 39% | 39% |
| Too high | 22% | 20% | 35% | 28% |
| About right | 8% | 23% | 5% | 3% |
| Too low | 8% | 11% | 6% | 5% |
| Much too low | 3% | 2% | 1% | 2% |
| Don't know | 35% | 35% | 13% | 24% |
| Net too high | 46% | 29% | 75% | 67% |
| Net too low | 10% | 13% | 7% | 7% |
On government spending, more voters think Labour is spending too much rather than too little, with 46pc saying spending is too high and 10pc saying it's too low. Labour supporters are pulled in several directions, with 29pc saying spending is too high, 23pc saying the balance is about right, 13pc too low, and another 35pc saying they are unsure.
On the right, three quarters of Conservative voters 75pc and around two thirds of Reform supporters 67pc say spending is too high, while only 7pc in each group think it is too low.
We then asked voters if they think this Budget will make them worse or better off.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Much better off | 1% | 1% | 2% | 0% |
| Better off | 1% | 4% | 1% | 1% |
| About the same | 18% | 28% | 15% | 15% |
| Worse off | 38% | 35% | 55% | 28% |
| Much worse off | 20% | 7% | 22% | 41% |
| Don't know | 23% | 26% | 7% | 15% |
| Net better off | 2% | 5% | 2% | 1% |
| Net worse off | 57% | 41% | 76% | 69% |
Hardly anyone expects to be better off from this Budget, with only 2pc of voters saying that compared with 57pc that expect to be worse off as a result.
Even Labour voters, who might be expected to give the government the benefit of the doubt, are downbeat, with only 5pc saying they will be better off and 41pc saying they will be worse off, while for Conservative and Reform voters the verdict is harsher still, with 76pc and 69pc respectively expecting to be worse off.
The results point to low confidence in the Budget and little hope that it will ease the pressure on household finances.
We then asked how well people thought the Labour government was managing the economy.
| Response | All voters | LAB voters | CON voters | Reform voters |
|---|---|---|---|---|
| Very well | 1% | 5% | 1% | 0% |
| Well | 5% | 15% | 1% | 0% |
| Neither well nor badly | 14% | 23% | 4% | 8% |
| Badly | 22% | 19% | 34% | 17% |
| Very badly | 34% | 13% | 52% | 60% |
| Don't know | 23% | 26% | 7% | 16% |
| Net well | 7% | 19% | 2% | 0% |
| Net badly | 56% | 32% | 86% | 76% |
The verdict on the government's overall management of the economy is equally bleak. Over half the public (56pc) think that Labour is doing a bad job versus just 7pc who feel they are doing well. This disapproval is virtually unanimous among the opposition, with 86pc of Conservatives and 76pc of Reform voters thinking Labour is failing. Even within Labour's ranks confidence is crumbling, with more Labour supporters saying the government is doing badly than doing well.
Martin Baxter, CEO of Electoral Calculus, said "Labour has inherited a tough fiscal hand with low growth, high debt and big deficits. Squeezed between backbenchers who will not accept spending cuts and the bond market that will resist more borrowing, Rachel Reeves has produced a classic tax-and-spend Budget that feels more old Labour than new. Our polling shows that voters see it as unfair, think taxes and spending are too high and expect to be worse off, hardly the backdrop Labour wants as it tries to convince the country it can be trusted with the economy."
Tyron Surmon, Find Out Now, said "The public clearly aren't impressed by the Budget. Over half the public think that the government are handling the economy badly and that the Budget will leave them worse off. That said, one could argue that no matter what the Government did, it was likely to be received poorly. So we'll have to see over the coming weeks and months what the lasting impression - if any - on public attitudes will be."
Find Out Now polled 1,000 GB adults online on 26 November 2025. The sample was weighted to be representative by gender, age, social grade, other demographics and past voting patterns.
Find Out Now and Electoral Calculus are both members of the British Polling Council and abide by its rules.
Data tables for this poll are available here.
Electoral Calculus is a pollster and political consultancy specialising in quantitative analysis and modelling for electoral and other market research projects. It has successfully predicted UK general elections since 2010. It was founded by Martin Baxter, its CEO.
Electoral Calculus is a member of the British Polling Council and abides by its rules, and is a company partner of the Market Research Society.
Find Out Now is a polling and market research panel with 2.8 million members. Highly profiled respondents can be targeted instantly, with over 100,000 daily responses allowing the delivery of same-day nationally representative sampling.
Find Out Now are a member of the British Polling Council and abide by its rules, and are a company partner of the Market Research Society.