As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July.

Labour have disclosed a number of tax changes they would introduce. To summarise they are:

They have also been vocal in confirming that they will not raise Income Tax, National Insurance or VAT (apart from the changes highlighted above).

In contrast, the Conservative Party has pledged to:

Of course, we will have to wait for the outcome of the election and then the formal disclosure of any future tax changes. Which ever party assumes control, let us hope we can look forward to a period of economic growth. If the pundits are correct, expanding economic activity and productivity are the necessary ingredients to increase prosperity. Fingers crossed that the new brooms are up for this task.

Source:Other | 10-06-2024