October 2024 Budget: How Did Voters React?
The Autumn Budget introduced a National Insurance rise, scrapped the Winter Fuel Payment, and pledged record NHS investment. Public verdict: mixed.
Overall Budget Approval
Oct 2024 → May 2026Question: “Do you approve or disapprove of the October 2024 Autumn Budget overall?” Source: YouGov / Ipsos / Survation composite.
Source: Composite of YouGov, Ipsos and Survation, October–November 2024.
Policy-by-Policy Reactions
Support vs. Oppose% support vs. % oppose for each Budget measure. Source: YouGov polling, October–November 2024.
Source: YouGov polling, October–November 2024.
Budget Measures: Full Polling Breakdown
| Budget Measure | Support | Oppose | Net | Key polling note |
|---|---|---|---|---|
| NHS funding increase (+£22bn) | 76% | 12% | +64 | Most popular measure by far |
| Capital gains tax rise | 54% | 28% | +26 | Strong cross-party support |
| Employer NI rise (+1.2pp to 15%) | 41% | 48% | −7 | Concern re jobs and wages |
| Winter Fuel Payment cut | 31% | 59% | −28 | Most opposed measure; pensioner backlash |
| Minimum wage rise to £12.21 | 72% | 16% | +56 | Strongly popular across all demographics |
| Inheritance tax on pension pots | 48% | 35% | +13 | Farmers protest drove late opposition |
| Council tax reform | 44% | 28% | +16 | Varies significantly by region |
| Fuel duty freeze | 61% | 22% | +39 | Popular with motorists; criticised by greens |
Perceived Impact: Will the Budget Make You Worse Off?
% who said the Budget would leave them personally better off, worse off, or about the same. Source: YouGov, October 2024.
Context: The Budget Political Impact
The October 2024 Autumn Budget was the first Labour Budget in 14 years. Chancellor Rachel Reeves announced £40bn in tax rises alongside a significant increase in public spending, primarily directed at the NHS.
The political damage came primarily from two decisions: the abolition of the Winter Fuel Payment for most pensioners (saving £1.5bn) and the rise in employer National Insurance from 13.8% to 15%. The Winter Fuel cut proved particularly toxic — opposed by 59% of voters — as it affected approximately 10 million pensioners who had previously received the payment.
In contrast, the £22bn increase in NHS funding was backed by 76% of voters across all parties, and the minimum wage rise to £12.21 was broadly popular. The Budget illustrates a core tension in Labour strategy: popular investment pledges combined with unpopular funding mechanisms.
Following the Budget, the government overall satisfaction rating fell from 36% to 30% within two months. By May 2026, that figure stands at 24%.
Frequently Asked Questions
What was the most unpopular Budget measure?
The removal of the Winter Fuel Payment from most pensioners was the most opposed measure, with 59% of voters against it. The payment had previously been universal for over-66s; removing it from those not receiving Pension Credit affected around 10 million pensioners.
What was the most popular Budget measure?
The £22 billion increase in NHS funding was backed by 76% of voters — a net approval of +64%. This was followed by the minimum wage rise to £12.21 (net +56%) and the fuel duty freeze (net +39%).
Did the Budget affect Labour poll ratings?
Yes significantly. Government satisfaction fell from 36% in October 2024 to 30% by December 2024. By May 2026 it stands at 24%. The Budget was not the only factor in Labour decline, but it was the single biggest trigger for the sharp fall in approval during the winter of 2024.