Britons have delivered a devastating verdict on Rachel Reeves’s record as Chancellor with just 15% saying she is doing a good job and nearly seven out of 10 stating she was wrong to strip all but the poorest pensioners of winter fuel payments.

Exclusive polling by Ipsos reveals the depth of public fear about the state of the economy, with nearly half (47%) expecting unemployment to go up and fewer than one in 10 (9%) thinking it will fall.

50% say she is doing a bad job. This is almost as poor as Kwasi Kwarteng’s 53% rating in September 2022 when he delivered Liz Truss’s mini-Budget, which was widely blamed for unleashing economic turmoil.

Shadow Chancellor Mel Stride said: “The Chancellor has shown appalling judgment… The public can see the consequences of Labour’s disastrous Budget, their failed economic policies and their broken promises.

“This Labour Chancellor is out of her depth and we’re all paying the price.”

The polling found more than half of Britons (52%) are less confident the economy will grow as a result of her decisions. A mere 14% say they are more confident and only 15% think she is doing a good job.

Ms Reeves has united the country in opposition to her axing of universal winter fuel payments for pensioners. This is opposed by 67% of Britons – including 53% of people who voted Labour in the summer election, as well as 62% of those who backed the Liberal Democrats, 82% of Conservative voters, and 85% of people who cast a vote for Reform UK.

A Labour MP warned the rolling back of winter fuel payments had been “extremely” damaging for the Government and generated a “huge amount of anger”.

The polling comes as the Chancellor faces intense scrutiny over claims about her employment history on her public CV and her expenses while working at Halifax Bank of Scotland.

The MP said: “I think she’s in the danger zone. I think there are people around her who want rid of her and I think there are people around Starmer who want rid of her.”

Caroline Abrahams of Age UK urged the Chancellor to change the policy on winter fuel payments to avoid a “disaster next winter”.

She said: “In recent weeks we have heard far too many stories of pensioners brutally rationing their energy use, putting their health at risk in the process. The work of planning how we avoid a repetition next year needs to start now.”

The Ipsos polling also reveals deep concern about the Chancellor’s decision to hike up employers’ National Insurance contributions. Critics have blasted this as a “jobs tax” which could fuel unemployment.

More than half (53%) say this was the wrong decision.

John Longworth, co-founder of the Independent Business Network, called for Ms Reeves to be sacked, saying: “The Chancellor has crashed the economy and condemned us to a doom loop of stagflation.”

The latest figures show the economy grew by just 0.1% in the last quarter of 2024, following no growth in the previous three months. The Bank of England has halved its growth forecast for this year to a mere 0.75%.

There are strong expectations the Chancellor will have to announce spending cuts if the Office for Budget Responsibility warns next month she is on course to break her own fiscal rules.

Maxwell Marlow of the Adam Smith Institute voiced concern, saying: “The recent Budget has only worsened our dire economic situation. Rather than reducing the burdens on businesses, which create the growth and jobs we need, the Government has hiked taxes to an unsustainable level.”

He called on her to “urgently reverse the National Insurance increase”.

Reform UK MP Lee Anderson said it is clear the Chancellor is “out of her depth and only hurting the pockets of British people”.

Pressing the Prime Minister to take action, he said: “Her Budget is one of the most economically damaging acts taken in recent years. It’s time Starmer took action and reversed her tax hikes.”

Callum Price of the Institute of Economic Affairs agreed the Budget has “unequivocally harmed businesses and the economy” but said there is “still time to fix things” by cutting tax and red tape.

Ms Reeves has defended her record, saying it is “not possible to turn around more than a decade of poor economic performance in just a few months”. She insists she is “doing what is necessary to bring stability back to the economy” and encourage investment “which is the lifeblood of a successful economy”.

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A Government spokesperson further defended her restrictions of winter fuel payments, saying: “We are committed to supporting pensioners – with millions set to see their state pension rise by up to £1,900 this parliament through our commitment to the triple lock. All eligible claims to pension credit can still be backdated by three months and is worth on average £4,200 so we continue to urge everyone eligible to apply.

“Many households will benefit from the £150 warm home discount to help with energy bills over winter while our extension of the household support fund will help with the cost of food, heating and bills.”

Ms Reeves does command public support when it comes to her decision to slap VAT on private school fees. Fifty-six percent of Britons think this was the right decision, including 76% of Labour voters and 39% of both Reform and Conservative voters.

There is also overwhelming support for the £22.6billion increase in NHS funding for day-to-day expenditure, alongside the £3.1billion boost for capital investment.

This was supported by 72% of respondents.