UK election campaigns are in full swing with both Labour and the Conservatives setting out their stalls on key issues. The economy is a hot button topic across the board, with historically high interest rates and a cost of living crisis to contend with.
Hargreaves Lansdown (HL) laid out some potential tax pledges that could affect the wallets of ordinary voters the most.
Tax pledges and predictions for the election so far
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The Conservatives have pledged to introduce Triple Lock Plus, which means the personal allowance will rise with the triple lock (by inflation, wage inflation or 2.5% — whichever is higher), so the state pension will remain under the taxable threshold.
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The tax cut most likely to win people’s votes is cutting council tax as 27% of Brits look for a party promising this. This is followed by cutting income taxes (13%).
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The second most popular tax change overall would actually be to raise taxes specifically to spend on the NHS (25%).
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Over the weekend shadow chancellor…
