This week the Labour finance chief dropped plans to re-impose caps on bankers’ bonuses as she vowed to unlock the potential of the City of London. And she has been a consistent voice of caution on Labour’s plan to spend £28 billion a year on investment in green industries — riling the left of the party in the process as Labour tries to shut down a key Conservative attack line.
Somewhat surprisingly for a previously low key figure, Reeves — a former Bank of England economist — is also starting to cut through with the public.
New research from consultancy JL Partners, shared with POLITICO, finds that while voters say Starmer is predominantly “boring,” Reeves is regarded as “competent” and “intelligent,” even if she has lower name recognition.
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“The fact that ‘competence’ is the biggest word there, I think she would be very happy with that, because one of the things they’ve been trying to do — and actually have, I think, so far successfully done — is neutralize worries about Labour’s handling of the economy,” says JL Partners director Scarlett Maguire.
“I think competent is exactly what they’re going for, and that’s in stark contrast to how most of the public see the Conservatives, especially over the last two or three years.”
Economic woes
The economy has, in recent years, rarely been a Labour vote winner.