IPSOS released their political summary today. Frankly, it does not make for good reading.
The top-line of voter intention isn't terrible for Labour. Though 36% isn't amazing, we are only 3% behind the Conservatives.
However there is a lot to worry about. As Peter Kellner said recently, YouGov polling has shown that Ed Miliband's election to the leadership has produced little, if any, bounce in popularity for Labour. This is the worst bounce created by a new leader since 1955.
In addition to this, the IPSOS poll shows that Ed himself has 41% approval for the way he is doing his job compared to 45% approval for Nick Clegg. This is quite a stunning statistic. Clegg has been widely discredited for backtracking on LibDem promises on tuition fees as well as a whole host of other policies. Granted, Clegg has a +5% net satisfaction rate compared to Ed's +19%. But it is still worrying. David Cameron, on the other hand, is riding into the sunset with a +15% rate of net satisfaction and 52% approval for how he is doing his job.
More worrying statistics come later in the survey as people were asked about party competence over the economy. From March until October this year, Labour's rating has decreased 1%. Just 25% now see Labour as having the best policies on the economy. What makes this even more alarming is that 38% see the Conservatives as having the best policies on the economy now whereas only 29% said the same thing in March. As an article on ProgressOnline helped to point out earlier this month, economic competency is going to be absolutely critical for Labour over the next few years.
For this reason, tomorrow and the week ahead will make up Ed Miliband's defining week. If Labour does not provide a credible response and alternative to the Comprehensive Spending Review this week, the 25% of people thinking we have the best economic policies will plummet further. As the aforementioned ProgressOnline piece states, people believe the cuts will help us in the long-term. So what will our response be?
Without an alternative, we can forget about Government for a very long time.