When will the general election be?
The general election is likely to be sometime in 2024 and Keir Starmer is the favourite to win.
2024 is set to be a big one for elections, with voters casting ballots in countries accounting for about 4.2 billion or 50% of the global population. Britons will almost certainly be among them. The question is when, says Rachel Cunliffe in The New Statesman.
In December, Rishi Sunak told reporters that the election would be held in 2024. The most likely dates are May, October or late November. The decision to implement the tax cuts announced in November’s Autumn Statement in January rather than April and the fact that this year’s Budget would be held on the earlier date of 6 March, along with recent hints of further tax cuts, notably to inheritance tax, suggest that May is the preferred date.
That gives Sunak the chance to “look decisive” and avoid accusations of “clinging on”. Two-thirds of voters want an early election, and another summer of Channel boat crossings could be electorally expensive.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
“Most obviously,” says Henry Hill in The Guardian, the local elections are on 2 May and it would be advantageous for the general election to coincide. It would “encourage Conservative voters to the polls and help avoid, or at least ameliorate, the devastating loss of councillors that otherwise might result... Wait until after May, and CCHQ will have lost hundreds of its most dedicated foot soldiers: its Tory councillors”. That said, the polls are currently “dismal” for the Tories, with Labour maintaining its poll lead of 15-20 points. Sunak may go “cold on the idea” of a May election if the polls don’t improve.
Nor can Sunak turn the election into a “presidential-style contest”, says Adam Forrest in The Independent. Keir Starmer is the most popular leader in 390 seats, including Sunak’s own Yorkshire constituency, according to a poll by Focaldata, while Sunak is favoured in just four seats. The “only silver lining” for the prime minister comes from the “don’t-knows” that were ahead in 238 seats.
Could the Tories still take it? A shock Tory win isn’t out of the question, says Luke Tryl in The Telegraph. People today are much more likely to change their minds over a short space of time.
More than 25% of the “don’t-knows” are “would-be core Tory voters” who are fed up with the current government, but are more likely to vote Tory than Labour, when push comes to shove. Nigel Farage’s Reform UK party could cost the Tories at least 30 seats if it retains its popularity. If the Tories can tempt some Reform voters or persuade the party to stand down, it will “save them seats”. Nor is there much love for Starmer – his approval ratings fall far short of those enjoyed by Tony Blair before Labour’s landslide win in 1997, notes The Times. This might not matter given current distaste for the Tories, but if the economy improves there is a “chance” that the Tories can go into the election on a platform of “don’t risk the recovery with Labour”.
The economy is “central to any Tory comeback”, with the cost of living continuing to far outstrip voters’ other concerns. During controversial secret talks, Dominic Cummings reportedly advised Sunak to make some “big, decisive moves”, such as holding an emergency budget and doubling the 40p income-tax threshold to £100,000, says Katy Balls in The Times. A less dramatic “gear shift” is more likely.
For all the speculation, it is “highly likely” Starmer will enter No. 10 this year, says The Times. Given this and the many “impediments to Britain’s recovery”, Starmer “owes the voters greater candour about how Labour would govern amid hardship at home and conflict overseas”.
This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription.
Related articles
- Spring Budget 2024 - what it could mean for your finances
- Inheritance tax receipts set for record breaking year after £400m rise
- Betting on US politics – who'll be the next US President?
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

Emily has worked as a journalist for more than thirty years and was formerly Assistant Editor of MoneyWeek, which she helped launch in 2000. Prior to this, she was Deputy Features Editor of The Times and a Commissioning Editor for The Independent on Sunday and The Daily Telegraph. She has written for most of the national newspapers including The Times, the Daily and Sunday Telegraph, The Evening Standard and The Daily Mail, She interviewed celebrities weekly for The Sunday Telegraph and wrote a regular column for The Evening Standard. As Political Editor of MoneyWeek, Emily has covered subjects from Brexit to the Gaza war.
Aside from her writing, Emily trained as Nutritional Therapist following her son's diagnosis with Type 1 diabetes in 2011 and now works as a practitioner for Nature Doc, offering one-to-one consultations and running workshops in Oxfordshire.
-
How much do you need to earn to afford the average rent?Rental growth is slowing and making rents more affordable for tenants, but what hwo much do you need to earn to afford the average UK rent?
-
FCA launches scam checker tool after 800,000 suspected to have lost money to fraudstersSavers and investors can use the tool to check if a firm is the 'real deal' and is actually authorised to provide the services it is offering
-
Leading European companies offer long-term growth prospectsOpinion Alexander Darwall, lead portfolio manager, European Opportunities Trust, picks three European companies where he'd put his money
-
How to capitalise on the pessimism around Britain's stock marketOpinion There was little in the Budget to prop up Britain's stock market, but opportunities are hiding in plain sight. Investors should take advantage while they can
-
London claims victory in the Brexit warsOpinion JPMorgan Chase's decision to build a new headquarters in London is a huge vote of confidence and a sign that the City will remain Europe's key financial hub
-
Reinventing the high street – how to invest in the retailers driving the changeThe high street brands that can make shopping and leisure an enjoyable experience will thrive, says Maryam Cockar
-
The consequences of the Autumn Budget – and what it means for the UK economyOpinion A directionless and floundering government has ducked the hard choices at the Autumn Budget, says Simon Wilson
-
The global defence boom has moved beyond Europe – here’s how to profitOpinion Tom Bailey, head of research for the Future of Defence Indo-Pac ex-China UCITS ETF, picks three defence stocks where he'd put his money
-
Profit from a return to the office with WorkspaceWorkspace is an unloved play on the real estate investment trust sector as demand for flexible office space rises
-
An “existential crisis” for investment trusts? We’ve heard it all before in the 70sOpinion Those fearing for the future of investment trusts should remember what happened 50 years ago, says Max King