UK politics – live: Reform level with Labour in new poll as Treasury responds to gloomy economy update
New poll by FindOutNowUK marks a fresh political blow for Sir Keir Starmer who has overseen a rocky start to his leadership of the country
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sir Keir Starmer has been dealt a further blow with a new poll predicting Labour would lose its overall majority if an election was held now.
The poll by FindOutNowUK has put Reform level pegging with Labour on 25 per cent and the Tories five points behind on 20 per cent. According to the calculations, if the result was repeated in a general election Labour would lose 173 seats but remain the largest party on 238.
Reform would leap into second place from the five MPs to 170, taking deputy prime minister Angela Rayner and shadow foreign secretary Priti Patel’s seats. The Tories would be left with just 89 seats and a viable government could only be formed with a deal between Labour and the Lib Dems on 70 seats and SNP on 42.
The poll, which comes after a survey by think tank More in Common that also found Labour would lose its majority, marks a fresh political blow for Sir Keir who has overseen a rocky start to his leadership of the country.
There are also fears over the economy with the pound plunging to its lowest level for over a year after a rout in the bond markets. And with government borrowing costs also increasing, Treasury minister Darren Jones has warned that “public services will have to live within their means”.
Elon Musk is more interested in demonising Muslims than finding justice for victims of grooming
Starmer and Macron discuss Ukraine and Middle East ahead of Trump’s inauguration
Rachel Reeves must now tell us when things are going to get better
Was this the moment David Lammy stepped up as a Starmer asset?
What rising government debt costs mean for you: Mortgages, employment and the economy
Read the full report from my colleague Howard Mustoe:
What rising government debt costs mean for you: Mortgages, employment and the economy
High government borrowing costs come amid fears that inflation is creeping up again, which could lead the Bank of England to keep rates on hold
Treasury minister: ‘Government does not comment on specific financial market movements'
Treasury minister Darren Jones, responding to an urgent question on borrowing costs from shadow chancellor Mel Stride, told the Commons: “Financial markets are always evolving as the shadow chancellor knows so it is a long-standing convention that the Government does not comment on specific financial market movements and I will not be breaking that convention today.
“Financial market movements, including changes in Government bond or gilt yields, which represent the Government’s borrowing costs, are determined by a wide range of international and domestic factors.
“It is normal for the price and yields of gilts to vary when there are wider movements in global financial markets, including in response to economic data.
“In recent months, movement in financial markets has been largely driven by data and global geopolitical events, which is to be expected, as markets adjust to new information.”
Conservative MPs had shouted “where is she” in reference to Chancellor Rachel Reeves as the urgent question was directed at her, but Mr Jones was sent by the Government to respond.
Markets functioning in ‘orderly way’, Treasury minister insists
Darren Jones, Chief Secretary to the Treasury, has said the situation in financial markets is “always evolving” as he addressed an urgent question by Mel Stride on the turmoil in financial markets.
Mr Jones said the surge in bond yields had been “largely driven by data and geopolitical events”.
He insisted the gilts market “continues to function in an orderly way” and that there remained “strong demand” for UK debt.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments