Each main UK political partys tax policies explained | Politics News [Video]

One of the key battlegrounds in the 2024 General Election – and every general election for that matter- has been the issue of taxation.

Parties across the political spectrum are keen to set out their vision for the economy, with plans to cut and spend dominating the agenda.

Setting out their vision for a low-tax economy, the Conservatives have promised to continue cutting income tax and national insurance, and have accused Labour of wanting to raise the average household tax by £2,000 a year- claims Labour have strenuously denied.

With the issue looking set to dominate debate and discussion all the way up to polling day, here’s how each party plans to tax the economy should they end up in No.10:

• 2p cut to National Insurance
• Scrap stamp duty for first-time buyers
• £20 billion worth of tax cuts

Tax cuts appear to be at the heart of the Conservative manifesto, with Rishi Sunaktelling BBC’s Nick Robinson during a Newsnight interview that ‘We’re going to keep cutting people’s taxes. …