A major Ipsos-Mori poll out today has more bad news for the government.

These are the headline results:

1. The polling shows that Labour has pulled level with the Conservatives for the first time since January 2008. The Conservatives, at 37%, are holding their May general election share, while Labour is up seven points, the Liberal Democrats are down eight, a 3.5% swing back to Labour. The government now has a negative satisfaction rating – the first time this has happened since the election.

2. Our Economic Optimism Index has sharply returned to negative territory, with more believing the economy will get worse than believe it will get better, and now stands at -21%, from +3 in July. Perhaps due to economic uncertainty, EOI has not followed a consistent direction for some months, but this is the sharpest fall in EOI since December 2009, and the widest level of pessimism since March of that year. Around three in ten (28%) think that the economic condition of the country will improve over the next 12 months, but almost half (48%) think that it will get worse.

3. In terms of the timescale of the cuts, three-quarters (75%) feel that it is ‘better to cut spending back more slowly, to reduce the impact on public services and the economy’, leaving a quarter (23%), who feel it is ‘important to cut spending quickly even if this means immediate job losses, because it will be better for the economy in the long term’.

4. Two thirds disapprove of both the policy to raise VAT to 20% and the rehabilitation of criminals by the private sector, leading to shorter prison sentences (67% and 66% disapprove respectively).

5. There is less consensus around the encouraging of parents, teachers and companies to set up schools, and the raising of the retirement age (52% and 42% agree respectively).

But there is also some mixed news for the Coalition

6. David Cameron and Nick Clegg are though viewed more positively, with net satisfaction scores of +24 and +17 respectively. David Cameron’s rating (57% satisfied) is the highest he has ever received (equalling June 2010). Among Conservative supporters, Cameron is markedly more popular (with a net satisfaction score of +87) compared with Clegg’s satisfaction among Liberal Democrat supporters (net score +46). In fact, Clegg is more popular with Conservative supporters than supporters of his own party (net score of +66 among Conservatives).

7. In terms of which leader would make the most capable Prime Minister, around half (49%) back David Cameron, with a fifth opting for one of the Miliband brothers (David on 22%, Ed on 19%). One in nine (11%) feels that Nick Clegg would make the most capable prime minister.

8. Also, more of the public agree (57%) than disagree (36%) that ‘in the long term, this government’s policies will improve the state of Britain’s economy’, though there is a fall in net agreement to +21, from +32 in June.

9. There is broad approval of the increase in nuclear power, and the provision of greater power to GPs to run the NHS; in both instances, around three in five approve and three in ten disapproves. There is less consensus around the encouraging of parents, teachers and companies to set up schools, and the raising of the retirement age (52% and 42% agree respectively).

Reader comments

1. Liberal Conspiracy

   Another poll: public rejects speed of Coalition cuts http://bit.ly/bWF8S1

2. Jeevan Rai

   RT @libcon: Another poll: public rejects speed of Coalition cuts http://bit.ly/bWF8S1

3. sunny hundal

   New poll has Ed-Mili just 3 pts behind D-Mili as 'most capable PM', big change from earlier polls http://bit.ly/bWF8S1

4. Dave Forrest

   RT @sunny_hundal: New poll has Ed-Mili just 3 pts behind D-Mili as 'most capable PM', big change from earlier polls http://bit.ly/bWF8S1

5. Bruno Bernard

   RT @sunny_hundal: New poll has Ed-Mili just 3 pts behind D-Mili as 'most capable PM', big change from earlier polls http://bit.ly/bWF8S1

6. Clare Cochrane

   we are the anti-cuts majority RT: @libcon: Another poll: public rejects speed of Coalition cuts http://bit.ly/bWF8S1

7. greg beales

   David and Ed Miliband now almost nec and neck on 'most capable PM' in latest Mori poll (as name-recognition gap closes) http://bit.ly/bWF8S1

8. Marcus A. Roberts

   RT @sunny_hundal: New poll has Ed-Mili just 3 pts behind D-Mili as 'most capable PM', big change from earlier polls http://bit.ly/bWF8S1

9. Other TaxPayers Alli

   RT @libcon Another poll: public rejects speed of Coalition cuts http://bit.ly/bWF8S1

10. Ben Page Ipsos MORI

    RT @gregbeales: David and Ed Miliband now almost nec and neck on 'most capable PM' in latest poll http://bit.ly/bWF8S1

11. Kieron Merrett

    Yay – no doubt due to all that PHONEBANKING RT @sunny_hundal New poll has Ed-Mili just 3 pts behind D-Mili as… http://bit.ly/bWF8S1