Obama's re-election looks an ever-safer bet

US president opens up a five-point lead over Romney in latest national poll.

Despite his rather underwhelming convention speech and Friday's mediocre US jobs figures, Barack Obama is looking an ever-safer bet for re-election. The latest Gallup national poll gives him a five-point lead over Mitt Romney (49-44), the largest he has enjoyed since early July, compared to a one-point lead before the Democratic Convention. Worse for Romney, since the Gallup poll is based on a rolling seven-day average (meaning that some of it was conducted before the key speeches last week), Obama's real lead could be even larger.

In addition, approval with Obama has risen from 45% before the convention to 50%, the level that typically guarantees re-election. Significantly, this is a far larger bounce than that received by Romney, who saw support for him rise by a statistically insignificant one point after the Republican convention.

Finally, Obama has also extended his lead in Ohio, the most likely "tipping point" state, (see Nicky Woolf's on-the-ground report for the NS). Overnight, the first Ohio poll since the convention gave Obama a five-point lead over Romney (50-45), his largest since early May.

Barring some unexpected foreign or economic crisis, Romney's only remaining chance to change the state of the race will come with the presidential TV debates, the first of which is on 3 October. But it will be worth watching the polls closely for the next fortnight. As a study by political scientists Robert Erikson and Christopher Wlezien showed, the candidate who leads in the polls two weeks after the conventions has won the popular vote in the last 15 presidential elections.

Barack Obama waves at a campaign event in West Palm Beach, Florida. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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Lord Sainsbury pulls funding from Progress and other political causes

The longstanding Labour donor will no longer fund party political causes. 

Centrist Labour MPs face a funding gap for their ideas after the longstanding Labour donor Lord Sainsbury announced he will stop financing party political causes.

Sainsbury, who served as a New Labour minister and also donated to the Liberal Democrats, is instead concentrating on charitable causes. 

Lord Sainsbury funded the centrist organisation Progress, dubbed the “original Blairite pressure group”, which was founded in mid Nineties and provided the intellectual underpinnings of New Labour.

The former supermarket boss is understood to still fund Policy Network, an international thinktank headed by New Labour veteran Peter Mandelson.

He has also funded the Remain campaign group Britain Stronger in Europe. The latter reinvented itself as Open Britain after the Leave vote, and has campaigned for a softer Brexit. Its supporters include former Lib Dem leader Nick Clegg and Labour's Chuka Umunna, and it now relies on grassroots funding.

Sainsbury said he wished to “hand the baton on to a new generation of donors” who supported progressive politics. 

Progress director Richard Angell said: “Progress is extremely grateful to Lord Sainsbury for the funding he has provided for over two decades. We always knew it would not last forever.”

The organisation has raised a third of its funding target from other donors, but is now appealing for financial support from Labour supporters. Its aims include “stopping a hard-left take over” of the Labour party and “renewing the ideas of the centre-left”. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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