As the UK gears up for its upcoming general election, the manifestos of the major political parties—Conservatives, Labour, the Liberal Democrats, and Reform UK—have placed tax and business policies at the forefront of their agendas. Collectively, these parties are projected to secure approximately 90% of the votes in the election scheduled for Thursday.
Across the board, there is a common undertone in the pledges made by these parties. Each has vowed either not to increase taxes on working individuals or to implement tax cuts. Additionally, there is a unanimous commitment to resolving the ongoing crisis in the National Health Service (NHS) and livening up an economy that has not kept pace with its international peers in recent years. The detailed manifestos can be accessed directly from the parties: Conservatives, Labour, Liberal Democrats, and Reform UK.
However, while the pledges sound robust, experts remain skeptical about the financial viability of these promises. The Institute for Fiscal Studies has expressed concerns over the fiscal balance proposed by the foremost parties. For additional context and an encompassing view of the electoral promises, please refer to the detailed analysis available here.