General Election 2024

The campaign

We've produced weekly updates of tax debate and policy developments during the campaign

Week Five: 22-28 June
With less than a week to go until the general election, scrutiny focused on what tax changes a future Labour government might make. The final party manifestos were published.

Week Four: 15-21 June
With less than two weeks to polling day, the main political parties ramped up their attacks on each other's manifestos and policies.

Week Three: 8-14 June
Most of the parties published their manifestos. The Conservatives proposed £17 billion in tax cuts paid for by reducing welfare benefits and the tax gap, while Labour aims to generate £8.6 billion extra for public services.

Week Two: 1-7 June
The first general election debate between Rishi Sunak and Keir Starmer took place, with taxes a central topic. The Conservatives made new commitments on property taxes and the child benefit charge.

Week One: 22-31 May
Tax was front and centre of the general election battle in the first 10 days, with the main parties promising not to increase income tax, national insurance or VAT rates and the Conservatives proposing a tax cut for pensioners.

The manifestos 

We've produced summaries of tax and related policies in the main party manifestos

Conservatives propose cuts in National Insurance and stamp duty land tax
The Conservatives have launched their general election manifesto promising £17 billion a year of tax cuts by the end of the next Parliament paid for by cuts in welfare benefits and reducing the tax gap.

Labour target tax rises for non-doms, private schools and oil and gas companies
The Labour Party have published their general election manifesto proposing £8.6 billion in narrowly targeted tax increases but committing not to raise VAT, income tax, National Insurance or corporation tax rates.

Liberal Democrats propose increases in taxes on banks, flights and capital gains
The Liberal Democrats have published their general election manifesto, proposing to raise nearly £27 billion extra in tax revenue by the final year of the Parliament, from measures including a crackdown on tax avoidance and evasion, reforms to capital gains tax.

Greens want big taxes on carbon and the wealthy
The Green Party of England and Wales launched their general election manifesto, proposing an annual wealth tax, higher capital gains tax and raising the National Insurance rate to 8% on annual earnings above £50,270.

Reform UK target big cuts in income, inheritance and corporation taxes
Reform UK's manifesto proposes £90 billion of tax cuts including raising the inheritance tax threshold to £2 million, reducing corporation tax to 15%, lifting the income tax personal allowance to £20,000 and the higher rate threshold to £70,000.

Plaid Cymru push for tax devolution and funding reforms
Plaid Cymru’s manifesto emphasises increased tax devolution for Wales, reforms to Wales's funding settlement and equalising capital gains tax rates with income tax rates.

SNP says it will press for full tax devolution and an emergency budget
The SNP has launched its General Election manifesto with a promise that its MPs will “demand” the full devolution of tax raising powers to the Scottish Parliament.

Scottish Greens float income tax/NI merger and new wealth taxes
The Scottish Green Party manifesto pledges to merge income tax and National Insurance and bring UK income tax rates into line with Scotland’s from next April.

Scottish party manifestos hint at 2026 tax debate
The Scottish Conservatives manifesto commits to cut Scottish income tax and Land and Buildings Transaction Tax (LBTT), the devolved version of Stamp Duty Land Tax. Scottish Labour’s manifesto says that the party “will not raise taxes for working people” in Scotland, while the Scottish Liberal Democrats document includes a commitment to lowering income tax through increases in the personal allowance.

Northern Ireland’s parties publish election manifestos
The Democratic Unionist Party (DUP) manifesto argues for “fair” taxation to deliver more money “in the pockets of working people”, while Sinn Fein calls for the transfer of fiscal powers to the Executive including the power to introduce "progressive taxation". Social Democratic and Labour Party (SDLP) want to “meaningfully increase” the tax varying powers of the Northern Ireland Assembly, the Alliance manifesto calls for the UK tax system to be made more “progressive” with a greater focus on the taxation of wealth, and the Ulster Unionist Party (UUP) manifesto's proposals include a “progressive” approach to taxation.

The issues

We've highlighted issues around the tax system that deserve the attention of politicians, and produced helpful explainers on topical tax issues to inform the tax debate

Priorities for tax administration in the next Parliament

At the start of the election campaign, Institute President Charlotte Barbour wrote to the tax spokespeople for the main political parties identifying seven ‘pressing issues’ which the Institute believes should be a priority for the next government. 

The letter
The press release
The responses
Financial Times article: 'The tax system’s baffling complexity holds Britain back' (27 June)

Explainers

Tax and the state pension  (31 May)

Tax avoidance and the tax gap (7 June, updated 11 June) (watch our video explainer)

National insurance (10 June, updated 11 June) (watch our video explainer)

Non-doms (12 June) (watch our video explainer)

The general election and Scotland (tax powers) (21 June)

VAT on school fees (21 June)

Capital Gains Tax (21 June) (watch our video explainer)

Worker status (27 June)

Explainers homepage