Tax Notes Talk
Election Showdown: U.K. Parties Outline Tax Plans
Jun 21, 2024
Tax Notes reporter Sarah Paez discusses the tax plans of major UK political parties for the upcoming election. Topics include the Conservative Party's strategies for reducing national insurance contributions, the Labour Party's plans for new taxes like a wealth tax, and an update on the UK election landscape.
17:14
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Quick takeaways
- Conservatives aim to lower payroll taxes and support big businesses with extended expensing policies.
- Labour plans to abolish tax breaks for non-domiciled individuals and target tax avoidance, raising over £6 billion by 2028-2029.
Deep dives
Conservative Party's Tax Agenda
The Conservative Party in the UK is focusing on reducing national insurance contributions and has plans to lower payroll taxes. In addition, they aim to support big businesses by extending full expensing policies and pledging not to raise corporation tax rates. Despite facing criticism for raising corporate tax rates in the past, the Conservatives are positioning themselves as advocates for business growth and stability.
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