Expresses a very strong decision to avoid something because of negative qualities or consequences. That restaurant has failed several health inspections; I'd not touch it with a bargepole.
Pro Tip 2/3
Figurative Meaning
The phrase is not literal; it's an idiomatic expression to emphasize avoidance without actual poles involved. His last project was a disaster, so I wouldn't touch his new scheme with a bargepole.
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Colloquial Use
Used in casual conversations, may not be suitable for formal contexts. She's so unreliable; I wouldn't touch her offer with a bargepole.