Liz Truss has been sent a horror general election warning from a leading pollster who said she could find herself in “serious trouble” if she isn’t able to convince Conservative Party members she can avoid a financial crisis. Financial markets were left shellshocked following Chancellor Kwarteng’s mini-budget, which saw him announce £45billion worth of tax cuts and sent the pound tumbling to its lowest-ever level against the US dollar. The Bank of England was then forced to make an emergency intervention.
In another damaging blow, a bombshell poll from YouGov showed the Tories trailing Labour by a massive 33 percent, voters have quickly turned about the under-fire party.
Earlier this week, the Government was embarrassed after admitting it is abolishing a move to scrap the top tax rate for the highest earners following a furious reaction to the original announcement 10 days earlier.
Now leading pollster Sir John Curtice has sent a horror election warning to Ms Truss and the Tories, telling Express.co.uk: “The chaos currently engulfing the Tories at the moment is electorally seriously damaging.
“All the ingredients that dogged John Major’s Government in the wake of Black Wednesday in 1992 are in place.
“The only thing we are not sure about is whether or not the ingredients are going to be combined in the same way and pout in the oven in which case the chances of the Government winning the next general election will be over.
“History tells you that Governments that fall into trouble with the markets struggle. You only have to look at what happened in 1948, 1976, 1992 and 2007/08.
“If you find yourselves presiding over a fiscal/financial crisis, people remember, and they certainly don’t forget.”
The Government is set to publish the latest financial forecasts from the Office for Budget Responsibility (OBR) on November 23 in a move that could be critical to the premiership of Ms Truss.
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“If you are going to try and do this, you have to show your homework and it is pretty clear they haven’t done their homework.
“Why are we now scrambling around trying to get a report from the OBR? Because they hadn’t worked out the numbers. We are now talking about spending cuts when we weren’t supposed to be having them.”
Sir John doesn’t believe Ms Truss is facing a vote of no confidence from her own Tory members just yet as at this point, it would be a “pretty spectacular” move.
But he warned much does depend on the report from the OBR and warned if the figures aren’t “politically accepted”, then Ms Truss could find herself in “serious trouble”.
The leading pollster continued: “The question that is being raised is if Tories turn against Truss to the point they start submitting letters of no confidence in her? It would be pretty spectacular and won’t happen yet.
“However, much does hang on a much-accelerated OBR report and what is proposed to make all the numbers add up. The new proposals have to be politically accepted.
“What was clear last week was those proposals weren’t politically accepted and if that were to be repeated, Truss might be in serious trouble.”