A year after its landslide win, Britain’s Labour Party is navigating a tougher-than-expected path

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CNBC UK ExchangeA year after its landslide win, Britain’s Labour Party is navigating a tougher-than-expected pathPublished Fri, Jul 4 20251:39 AM EDTUpdated 1 Min AgoRitika GuptaWATCH LIVEKey PointsLabour won the 2024 election with a landslide victory, but the party's first year in power has been marked by notable wins and losses.Trade deals with the U.S., India and the European Union won the government plaudits, but attempts to reform the welfare system has met with strong opposition.The U.K. economy grew strongly at the start of the year, but that's not expected to last.British Prime Minister Keir Starmer and his wife Victoria Starmer react as they greet Labour campaigners and activists at Number 10 Downing Street, following the results of the election, in London, Britain, July 5, 2024. Toby Melville | ReutersIt's been one year since Labour returned to power in a landslide victory that appeared to show the party had turned over a new leaf after 14 years in opposition.

But the last 12 months have been nothing short of tumultuous for British Prime Minister Keir Starmer.Big promises, especially on the economy, have failed to materialize and as a result, Starmer's popularity has plummeted in the polls. When he became prime minister a year ago, 44% of voters polled by YouGov had a favorable opinion of Starmer. By May this year, that figure had fallen to a record low of 23%, although his rating has improved since then, standing at 28% in June.The government's main mission was to kick start growth and make people better off but a year on, business optimism, productivity and job creation remain muted – pressured in part, by a rise in the national living wage and employers' national insurance contributions.