Which Party Is Best For Investing?

Summary

This video script explores the potential impact of the UK's general election on investments, analyzing key policy proposals from major parties including tax changes, pension reforms, and investment directives. It scrutinizes each party's manifesto promises on fiscal drag, income tax thresholds, National Insurance, and capital gains tax, highlighting the possible effects on personal finances and market behavior. The script also touches on special policies like child care, parental leave, and wealth tax, urging viewers to consider these factors when voting and to stay informed for sound financial decision-making.

Takeaways

• 🗳️ The UK general election is on July 4th, coinciding with Independence Day in the US.
• 💡 The video aims to analyze the potential impact of each major party's policies on investments and the economy.
• 📈 The speaker does not support the Conservative party this time and emphasizes the importance of not being blindsided by the election results.
• 📊 The video references data from BBC and Financial Times, acknowledging that exact percentages in polls may not significantly alter outcomes.
• 🏛️ Smaller parties like SNP, Plaid Cymru, and Reform UK are excluded from the main comparison due to their focus on specific regions or lower polling numbers.
• 💼 The speaker criticizes the lack of comprehensive coverage of Reform UK by mainstream websites, despite its significant policy proposals.
• 💰 The script discusses the implications of tax policies, including income tax, National Insurance, capital gains tax, and VAT, on personal finances and investment.
• 📉 The 'fiscal drag' effect of frozen tax thresholds is highlighted as a significant factor increasing the tax burden on the public.
• 🏠 Policies related to housing, such as changes to stamp duty and council tax, are examined for their potential impact on homeowners and the property market.
• 💼 Corporate tax strategies and their potential effects on business growth and investment are also considered.
• 🌱 The video touches on environmental policies, particularly those of the Green Party, and how they might affect the energy sector and investment in green technologies.

Q & A

What is the significance of the UK general election being held on July 4th, Independence Day?

The significance is that it coincides with Independence Day in the United States, which the speaker finds a fun and interesting timing to discuss the potential impact of the election on investments.

Why might the speaker's previous videos on the election have received both positive and negative feedback?

The speaker speculates on outcomes and policies of the Labour party, which may not align with all viewers' political views, leading to both love and hate reactions.

What is the term used to describe the situation where not adjusting tax thresholds with inflation effectively increases taxes on wage earners?

The term is 'fiscal drag', which can push more workers into higher tax brackets as their wages rise with inflation.

What is the 'triple lock' policy regarding state pensions, and why has it been a topic of discussion?

The 'triple lock' policy ensures that state pensions increase by the highest of average earnings growth, CPI inflation, or 2.5%. It has been discussed due to concerns about its long-term sustainability and the fiscal risk it poses.

How does the speaker plan to compare the parties' policies on the video?

The speaker plans to compare the parties' policies based on what they have stated in their own manifestos, noting that these are not binding but an indication of what they may do.

What is the impact of freezing income tax thresholds on the number of taxpayers and tax revenue?

Freezing income tax thresholds is estimated to increase the number of taxpayers in each band by 11% for basic rate, 68% for higher rate, and 49% for additional rate, raising tax revenue by billions by the end of the forecast period.

What are the main tax policies proposed by the Conservative party regarding personal allowances and National Insurance?

The Conservatives propose introducing a new pensioner personal allowance and cutting National Insurance by 2% from 6% in April 2027, as well as eliminating the main rate of National Insurance for the self-employed.

How do the Labour party's policies on capital gains tax differ from the Conservative party's?

Labour wants to close a loophole where performance-related pay in private equity is treated as capital gains rather than income tax, while the Conservatives propose tax-free sales for landlords selling to existing tenants.

What is the Green Party's stance on VAT, and how might it affect various sectors?

The Green Party supports VAT fees for private school fees and proposes changes to VAT, such as reducing it on hard-pressed areas like hospitality and the arts, and increasing it on financial services and private education.

What are the Reform UK party's proposals regarding income tax and National Insurance?

Reform UK proposes raising the minimum tax threshold from £12,570 to £20,000 and the higher rate from £50,000 to £70,000, and introducing a 25% transferable tax allowance. They also plan to increase National Insurance to 20% for foreign workers.

How do the speaker's views on the parties' policies on inheritance tax differ from the provided manifestos?

The speaker wishes for more clarity on inheritance tax from all parties, as only the Green Party and Reform UK mention it in their manifestos, with differing proposals for reform and abolition, respectively.

Outlines

00:00

🗳️ UK General Election and Investment Implications

The script discusses the upcoming UK General Election coinciding with Independence Day and its potential impact on investments. The speaker intends to analyze each party's manifesto promises to predict their effects on investors. The focus will be on the major parties, excluding smaller ones like the SNP and Plaid Cymru. The speaker expresses concern about the current state of the UK and acknowledges the challenges any new government will face in fulfilling their promises, hinting at potential negative outcomes not explicitly stated in the manifestos.

05:01

💼 Impact of Party Policies on Taxation and Personal Finances

This paragraph delves into the tax policies of various parties, highlighting the potential effects on personal finances and investment. It discusses income tax, the triple lock on pensions, and the implications of threshold freezes, which could lead to fiscal drag affecting millions of taxpayers. The speaker outlines the different stances of parties like the Conservatives, Labor, Liberal Democrats, Green Party, and Reform UK on tax thresholds, pension allowances, and National Insurance rates, emphasizing the potential financial burden on citizens and investors.

10:01

🏦 Tax Policies on Capital Gains, VAT, and Corporation Tax

The speaker examines capital gains tax, VAT, and corporation tax policies proposed by the parties. They discuss Conservative plans for tax-free land sales to tenants, Labor's aim to close loopholes in private equity, Liberal Democrats' proposals to adjust capital gains tax rates, and the Green Party's intention to align capital gains tax with income tax. VAT policies include Conservative plans to maintain the current rate, Labor's controversial move to tax private school fees, and the Liberal Democrats' unique proposals to scrap VAT on children's dental products and reduce it for electric vehicle charging. Corporation tax plans are also explored, with parties having different strategies to maintain or adjust rates to support businesses.

15:01

🏠 Proposals on Stamp Duty, Council Tax, and Inheritance Tax

The paragraph covers the parties' proposals related to stamp duty, council tax, and inheritance tax. Conservative plans to increase the first-time buyer stamp duty threshold and Labor's intention to increase the rate for non-UK residents are highlighted. The Liberal Democrats propose a social charge on second home purchases, while the Green Party suggests a land value tax system. Inheritance tax discussions include the Green Party's proposed reforms and Reform UK's plan to abolish it for estates under £2 million, with a 20% rate for higher values, potentially impacting the way wealth is transferred across generations.

20:01

💼 Investment-Related Policies and Pension Fund Implications

This section focuses on investment-specific policies, particularly those affecting pension funds. The Conservatives promise no new tax changes on pensions, while Labor plans to increase investment from pension funds into UK markets. The Liberal Democrats aim to align pension investments with the Paris Agreement, and the Green Party proposes removing fossil fuels from pension assets by 2030. Reform UK suggests a review of the pension landscape to improve outcomes and increase investment in UK markets, with a focus on public ownership of utilities and better management by pension funds.

25:02

🤔 Reflections on Party Policies and the Impact on Personal Finances

The speaker reflects on the divisive nature of the party policies based on personal circumstances and views. They express a sense of being lost between the major parties and a desire for more cooperation. The paragraph concludes with a call for transparency, urging viewers to read the manifestos themselves to make informed decisions. The speaker also touches on the importance of kindness and understanding in political discourse and ends with a note on helping viewers improve their finances.

Keywords

💡General Election

A general election is a universal adult suffrage process by which the members of a legislative body are chosen. In the context of the video, the UK's general election is the focal event where different political parties present their manifestos, aiming to influence voters and shape the future of the country's policies, including those related to investments and taxation.

💡Manifesto

A manifesto is a public declaration of the intentions, motives, and views of a political party or candidate. In the video, the speaker refers to the manifestos of various UK political parties to analyze and compare their proposed policies, particularly how these might impact investments and the economy.

💡Fiscal Drag

Fiscal drag is an economic term referring to the situation where an increase in wages and inflation leads to higher earners being pushed into higher tax brackets, effectively increasing the tax burden without any change in the tax rates. The video discusses how freezing tax thresholds can result in fiscal drag, affecting millions of taxpayers.

💡Triple Lock

The triple lock is a policy in the UK that guarantees that the state pension will rise by the highest of inflation, average earnings growth, or 2.5%. The video mentions the triple lock as a significant factor in determining the value of the state pension and its potential sustainability concerns.

💡National Insurance

National Insurance is a social security contribution in the UK that funds various state benefits and the National Health Service. The video discusses the political parties' plans regarding National Insurance, such as proposed cuts or changes to the rates for different groups of workers.

💡Capital Gains Tax

Capital gains tax is a levy on the profit made from selling assets that have increased in value. In the video, the speaker explores how different parties' policies on capital gains tax could affect individuals when they sell assets like property or shares.

💡VAT (Value Added Tax)

VAT is a consumption tax charged on goods and services. The video script mentions various parties' proposals related to VAT, such as changes to rates or exemptions, which can influence consumer spending and business operations.

💡Corporation Tax

Corporation tax is a tax on the profits of corporations. The video outlines the different stances of political parties on corporation tax, indicating whether they plan to change rates or implement new policies that could affect businesses and their investors.

💡Inheritance Tax

Inheritance tax is a tax on the estate of a deceased person. The video discusses the potential changes to inheritance tax by different parties, which could impact how wealth is passed down through generations.

💡Tax Avoidance

Tax avoidance refers to the use of legal methods to reduce tax liability. The video mentions the parties' intentions to tackle tax avoidance, suggesting measures to ensure fairness and increase revenue collection.

💡Stamp Duty

Stamp duty is a tax on property transactions in the UK. The video script discusses the potential changes to stamp duty thresholds and rates, which can significantly affect the cost of buying property and the housing market.

💡Council Tax

Council tax is a local tax in the UK that funds local government services. The video outlines the different parties' proposals for council tax, including potential increases or changes to the valuation bands, which can impact homeowners and local government finance.

💡Pension Funds

Pension funds are long-term savings schemes that invest in a range of assets to provide retirement income. The video discusses how different parties' policies could influence pension fund investments, particularly in relation to climate change and UK market investments.

💡Wealth Tax

A wealth tax is a tax on the total value of personal assets, excluding basic exemptions. The video mentions the Green Party's proposal for a wealth tax on individuals with assets above certain thresholds, which would affect a minority of the population but generate significant revenue.

Highlights

The UK general election coincides with Independence Day, offering a reflection on the potential impact of each party on investments.

The video aims to compare party manifestos to understand their implications for investors, without bias towards any political stance.

None of the parties plan to raise income tax, but there's concern about fiscal drag due to frozen tax thresholds.

The Conservatives propose a new pensioner personal allowance to save pensioners money, while Labour and Lib Dems aim to protect the existing triple lock.

The triple lock has increased the state pension's value relative to earnings, but its long-term sustainability is in question.

Reform UK's policy suggests raising minimum and higher rate tax thresholds significantly, which could be impactful but also costly.

National Insurance rates may be cut by the Conservatives, with different parties having varying plans that could affect workers and the self-employed.

Capital gains tax proposals vary, with Labour aiming to close a loophole in private equity and the Lib Dems proposing an increase in the allowance.

VAT policies differ, with Labour planning to charge VAT on private school fees and the Lib Dems suggesting a reduction on public charging for electric vehicles.

Corporation tax is a key issue for businesses, with Labour capping it at the current level and the Conservatives not planning to increase it for small businesses.

Inheritance tax proposals are limited, with the Green Party suggesting reforms and Reform UK planning to abolish it for estates under £2 million.

All parties express interest in tackling tax avoidance, with strategies focusing on improving HMRC's capabilities and powers.

Stamp duty proposals include an increase in the threshold for first-time buyers by the Conservatives and a potential increase in rates for non-UK residents by Labour.

Council tax policies are varied, with the Conservatives opposing an increase in bands or revaluation, and the Lib Dems suggesting a significant increase for second homes.

Pension policies are a mix, with Labour aiming to increase investment from pension funds into UK markets and the Green Party proposing to lower pension tax relief for higher earners.

Special policies from parties include the Conservatives offering 30 hours of free childcare, Labour looking to abolish non-dom status, and the Lib Dems proposing a tax on share buyback schemes.

The video concludes by emphasizing the importance of reading party manifestos for a comprehensive understanding and encourages kindness in political discussions.

Transcripts

the general election here in the UK is

happening on July 4th or funnily enough

Independence Day and I thought it's a

good time to look at what each party

will mean for our investments this may

help you to make up your mind but also

be a good reflection of what we should

expect from whoever wins the election in

my last two videos I've tackled a lot of

what we could expect to come from labor

which does include speculating on what

may happen because let's face it whoever

gets in is going to be scrambling down

the back of the sofa to find the money

to fulfill their promises and is likely

going to be much worse to come than what

they're promising I've had a lot of love

and some hate on my previous videos some

calling them a Tory piece and in actual

fact I want to say I'm not voting

conservative this time and I would

presume I don't need to mention the fact

we all know we're in an absolute State

at the moment whether you blame the

Tories or not I feel like we don't need

to point out the obvious it's almost a

certainty that labor will be getting in

come Thursday but it's more interesting

to me to look at what we may expect to

come so we're not complet complet

blindsighted but in this video I want to

do something a little different and

compare what each of the parties are

setting out to do and how it will affect

us as investors for the purpose of

clarity I'm going to be going off what

they've said within their own manifestos

and I want to point out that just

because it's in their Manifesto doesn't

mean it's binding and it's only an

indication of what they may do I wish it

was binding so we could at least know

what we were getting if they had to

stick to their words so let's break down

each of the key areas and look at what's

been promised now I hurt some people's

feelings last time by just including the

U go poll so here's the data from both

the BBC and the financial times of

course he are just an estimate I really

don't think there's much difference

between labor having a 40% majority and

a 37% majority but I will apologize for

anyone that I upset for Eon to keep this

video shorter I'm going to be excluding

both the SNP and ped Cy as I believe

these are much smaller in the polls and

much more country specific so for the

purpose of this comparison I'll be

looking at Labor the conservatives the

liberal Democrats the green party and

yes reform UK I will say that during my

research of this campaign I'm shocked

how many sites have completely excluded

reform as a party which seems a shame as

I do believe in Fair representation

whether you agree with them or not and

also during this research it's

surprising how much is left out by big

websites I'm talking about big websites

with huge reach there's some saying

there's no mention of something when it

clearly outlines their plans quite

drastic in their own man estos so I've

directly taken this from what they have

said I would have liked to see them all

debate against each other in a fair

environment but it's no surprise that

BBC aren't going to give much support to

the party looking to abolish their TV

license fee and what's been going on

seems absolutely crazy so let's avoid

that Minefield and look at what's

actually been said in the key areas

affect us financially going forward

first let's talk about tax because this

is what has the biggest impact on us and

it's going to affect how much we have

available to invest best income tax is

going to be the big one that affects us

the most none of the parties have any

plans to raise income tax as that would

be such an unpopular policy with a

caveat because it's not raising income

tax that's the issue it's then not

raising the thresholds in line with

inflation when they freeze the

thresholds that we pay tax rather than

raising them in line with inflation

increases tax as rising wages plus

greater numbers of workers into the tax

system or onto higher rates it's a trend

known as fiscal drag in each forecast

higher than expected earnings increase

the numbers expected to be paying a

higher rate of tax and the amount of tax

that they pay data from the OB shows at

between 2022 and 2023 and 2028 and 29

this set of threshold freezes means that

nearly 4 million additional people will

be expected to pay income tax 3 million

more will have moved into the higher

rate and 400,000 onto the additional

rate this represents an increase in the

number of taxpayers in each band of

income tax 11 % for the basic round 68%

for the higher rate and 49% for the

additional rate this is a respective

increase by 20128 of 830,000 900,000 and

43,000 this set of freezes are now

estimated to raise 42.9 billion and 44.6

billion by the end of the forecast which

is 1.4% of GDP Frozen thresholds are the

largest contributor to the rising

overall economy wide tax burden

responsible for almost a third 4.5% of

GDP increase in taxes from 2019 to

2028 so what does each party plan to do

about it the conservatives plan to

introduce a new pensioner personal

allowance increasing the triple lot

guarantee from April 2025 which will

save around £1 for 8 million pensioners

rising to 270 per year by the end of

parliament this is a new scheme while

labor and the lib Dems also plan to

protect the existing triple lock that's

in place the trip lock is a commitment

to increase State pensions by whichever

is highest of average earnings growth

CPI inflation or 2.5% the triple lock

along with the introduction of the new

state pension has increased the value of

the state pension relative to earnings

to a level not seen since 1980 when the

policy of operating in line with

earnings was ended from a peak of 26% in

1979 the value of the basic state

pension as a percentage of average

full-time earnings fell to around 16%

between 2000 and 2010 following the

introduction of the triple lock the

value of the basic state pension

increased from 16.8% to 18.8% of

earnings by 2022 the new state pension

was worth 24.5% of earnings in 2022 a

slight increase from 24.1% when it was

introduced in 2016 in March 2023 the

department for work and pensions at DWP

forecasts that the total State Pension

expenditure in 2023 will be

124.32607 billion the triple o has

increased the value of the state pension

leaving pensioners better off than they

would have been otherwise however

concerns have been raised about its

sustainability in the long term

particularly in light of the recent

economic volatility which has

accelerated spending the OB or the

office for Budget responsibility has

identified the triple o as a fiscal risk

this is due to its upward ratcheting

effect which leaves a public finances

exposed to higher pension costs this one

I think is good news for pensioners and

perhaps us when we actually get there

but it's an expensive cost which will

only grow into the future whether it's

sustainable or not we'll have to see

labor haven't mentioned anything to do

with the income thresholds the liberal

Democrats said they would cut income tax

by raising the personal allowance when

public finances allow it the green party

have said and I quote they're committing

to no increases in basic rate of income

tax during this cost of living crisis no

mention of the higher rate taxpayers

which is a little scary and reforms

policy is like the most impactful here

raising the minimum tax threshold from £

12,570 to 20,000 and the higher rate

from 50 to 70,000 and when finan is

allowed they would introduce a 25%

transferable tax allowance meaning no

tax on the first 25,000 of income for

either spouse these would be pretty huge

but how expensive they would be is

another question definitely on the more

radical side out of the bunch on income

tax hand inhand with income tax is

National Insurance

the conservatives are suggesting a 2%

cut in National Insurance from 6% in

April 2027 which they say would save

1,350 for a worker on £335,000 and they

would get rid of the main rate of

national insurance for the self-employed

by the end of parliament labor have no

plans to increase National Insurance and

that's what they've said lib Dems have

no mention of it only they will aim to

make it fairer and the green party would

remove the reduced National Insurance

for higher earners and they quote they

feel that tax rate should not fall as

income increases reform plan to increase

National Insurance to 20% for foreign

workers they say this would incentivize

British businesses to employ British

workers because their national insurance

rate would stay at

13.8% I definitely understand reforms

thinking on this one but I hope it

wouldn't discourage us from getting

essential staff we need from overseas

where we already have shortages we do

have Fair wages in this country in the

sense of it's not like we're paying a

foreign employee less than a British one

at least I would like to think that's

the case I'm not overly convinced we

would be bringing them all here if we

didn't need them but that's open to

debate in terms of cost savings to us

likely conservatives would be best here

with the greens being the most expensive

for higher earners capital gains tax is

the next one that will affect the

majority of us at some point throughout

our lives the conservatives are

suggesting to implement taxfree for

landlords if they sell their property to

existing tenants seemingly in a bid to

get more people into Home Ownership

labor want to close a loophole where

performance related pay in private

Equity Industries is treated as capital

gains rather than income tax which to me

seems pretty fair the lib Debs want to

close loopholes they feel are being

exploited by the super wealthy raise the

allowance to 5,000 which would be better

for normal people remember until

recently it was 12,300 per person which

has now been stripped right down to

£3,000 which seems awfully low they also

want to introduce relief for small

businesses and increase rates to 20 40

and 45 % so it would be in line with

income tax generating a suggested

revenue of 5.2 billion green have said

that they would bring capital gains tax

in line with income tax and say it would

only affect 2% of income tax payers and

reform have no mention of it in their

Manifesto it would be so much easier if

they all had to give their stance on key

areas so we could clearly see where they

all stand but hey ho I think closing

some of these Le polls definitely seems

fair it's unfair that only a few can get

away some of these to pay less tax and

the mass majority of us have no choice

the lib Dems increase is nice to say too

and something I wish others would also

consider a nominal rate of capital gains

tax is nice for us all to benefit from

at some point I suppose the counter

argument is that some people are able to

take advantage of it every year while

for most of us it might be once C BL

Moon next is another tax which affects

us all in different ways which is vat

the conservatives plan to keep it at the

9,000 they had already established which

was good of them to do although we would

have liked to see a larger rise in in

line with Rising inflation labor planed

to charge Vats to private school fees

which has caused quite a bit of

controversy mainly around those parents

who will now be priced out and the

demand on public schools I don't think

many people feel too sorry for the ones

it won't mean a lot too financially now

the liberal Democrats have an

interesting one they want to scrap VAT

on children's toothbrushes and

toothpaste to encourage children to

brush their teeth they also want to cut

vat to 5% on public charging for

electric vehicles and they remove vat

exemption for private first class and

business class lights green is also in

favor of the VAP fees for private skills

and they say that they would propose a

range of changes to vat reducing it on

hard press areas such as hospitality and

the Arts and increasing it on financial

services and private education let's

hope that doesn't include core Financial

education type services or investing

platforms that people need they would

also look to remove or reduce V on

renewable energy installations not a

surprise for the greens which I would

personally like to see a bit more of and

also which I think is quite interesting

they want to remove V on things like

cultural events which includes

everything from theater to museum

tickets to gigs in local pubs which I

think could be pretty nice raor would

reintroduce the vat refund scheme for

Tor shopping which they claim has cost

the economy over 10 billion and perhaps

their most dramatic of their suggestions

is to scrap VAT on energy bills which

they say would save households £500 per

year and also throw in there they would

lower fuel Duty by 20p which would be

welcome change by most they also want to

lift the that threshold to 150,000 which

I think would be a welcome change for

small businesses they've also suggested

that relief in the social care system as

well as in contrast to the others

keeping the 20% relief on Independent

Schools as they think that relief can

ease the strain on public schools

there's some interesting changes on this

one I think reforms would probably be

the most impactful for us as a person

think about the private schools but I do

think also the policy about removing

that on things like museum tickets and

local G would be great for communities

this one's definitely highlighted some

areas that are quite interesting next up

is corporation tax which is integral to

businesses both small and large

conservatives have no plans to increase

corporation tax although they have said

at least not for small businesses which

could mean they do increase it for

larger companies labor will cap

corporation tax at the current level of

25% the lowest in the G7 for the entire

Parliament which is good and they say

they will act if tax changes in other

countries pose a risk to the UK

competitiveness the lib Dems plan to

tackle avoidance on this issue by

working with Partners in international

forums including the oecd and the UN to

tackle International corporate tax

avoidance for the benefit of all

countries and make the case for

increasing Global minimum rates of

corporation tax to 21% green

surprisingly doesn't mention corporation

tax in the manifesto reform plan to and

I quote free over 1.2 small and

medium-sized businesses from paying

corporation tax by lifting the minimum

threshold to 100K they also want to

reduce the main corporation tax rate

from 25% to 20% and then to 15% from

year three I really like the reform

policy on this one in particular it

would be huge for small business growth

although again how expensive some of

these changes could be is a real

question it's nice to see none of the

parties are planning at least for now to

increase it inheritance tax is another

one that's caused quite a fuss the

conservatives labor and the lib DS have

no mention of it in their policies which

isn't amazing it would be so much better

if they said their stance on it because

it does raise red flags on what possibly

could happen that hasn't been mentioned

and it has circulated a lot of rumors

about all the parties the green party

have said that they would reform

inheritance tax ensuring that

intergenerational transfers of wealth

attacks more fairly so we can presume we

would see some increases and maybe less

likely some reductions reform are

planning to abolish inheritance tax for

all the states under2 million that means

98% of all the states the rate above 2

million pound will be 20% tax with the

option to donate to charity instead it's

quite a sensitive subject as for most of

us we feel like we shouldn't be paying

tax to pass on our states we've already

paid tax on our entire lives not a huge

amount of clarity here from the others

hopefully that means they don't plan to

touch it it would have just been nice to

have that Clarity added another

interesting debate around this election

has been tackling tax avoidance which

all parties seem quite keen on the

conservatives are planning to tackle tax

avoidance and evasion raising an

estimated 6 billion pound per year by

the end of Parliament and what they say

is over 200 measures that they've

already implemented labor are planning

to tackle tax avoidance by modernizing

hmrc and increase registration and

Reporting requirements and strengthen

hmrc's powers and focus on large

businesses estimating A5 billion saving

hopefully not too much hassle for a

self-employed I have a feeling this will

mean completing a declaration a lot more

often than once a year most likely

quarterly Li DS is fairly similar they

want to narrow what they claim is a 36

billion pound tax Gap by investing an

extra 1 billion a year into hmrc to

improve support and compliance and

anti-avoidance activities suggesting a

revenue of 7.2 billion green also want

to strengthen hmrc while focusing on

making sure larger corporations pay

their fair share of tax reform have

stated they want to improve hmrc

Staffing and management to address

failure to collect tens of billions of

taxes as well as complaining that they

want to stop the offshore taxpayer

ripoff and they said some larger Care

Home providers are avoiding tax on

hundreds of millions of profits through

complex off share property company

structures and high interest shareholder

loans and they said this has to end they

all seem to be pretty focused on HRC and

we could see more regular reporting for

all I hope the focus here will be more

on the larger corporations and closing

loopholes and not more cost for the

smaller guys and more hassle but we'll

have to see stamp duty is the next one

that will affect all of us at 1 Point or

another in our lives the conservatives

want to increase the threshold for

firsttime buyers from 300K to 425,000

before they start paying stamp Duty with

no plans to increase it for anyone else

labor haven't mentioned a change for

anyone other than increasing the rate of

stamp Duty SE charge paid by non UK

residents which I think is pretty good

lab Dems have a similar policy to labor

and wanting to add a SE charge green

party have no mention of it and reforms

is pretty drastic in comparison they

want to cut resident stamp Duty

substantially by cutting stamp Duty down

to 0% below 750k and cut it to 2% from

750k to 1.5 million and cut it to 4%

over 1.5 million which could mean quite

a big saving for everybody council tax

is another area that's come under a lot

of scrutiny the conservatives have said

that under the family home tax guarantee

we will not increase the number of

council tax bans or undertake an

expensive council tax revaluation or cut

council tax discounts with a lovely dig

at the end as labor is currently doing

in Wales labor have not mentioned in

their plans I would assume that they

would bring England in line with Wales

and go of 2003 values of properties

rather than 1991 but they haven't said

anything the lib DMS have quite a big

one here giving councils the ability to

increase council tax by up to 500% where

homes are being bought as second homes

this one's likely to give local

authorities the ability to put people

off buying up areas where local state

homes and are priced out to the market

this has been particularly pressing

especially in certain areas of Wales

everybody is buying a holiday home the

locals can't buy green have said that

the green party has always opposed

council tax which is a regressive tax

that shifts the emphasis away from a

local tax of property they want what

they say is a fairer system for taxing

landowners they said our long-term

policy aim is a land value tax so those

with the most valuable largest land

Holdings would contribute the most they

want a reevaluation of council banss to

reflect big changes in value since the

1990s they want to remove business rate

relief on Enterprise zones free ports

petrol stations and most empty

properties and they want a survey of all

land Holdings to pave the way for fair

taxation of land reform have made no

mention of Cel tax in the manifesto

before we hop into investment specifics

there's a couple of other special

policies which only apply to certain

parties in these cases the other parties

haven't mentioned these specific

policies which isn't to say they won't

do them but it isn't their manifestos so

from the conservatives we got 30 hours

of free child care a week up to when

they start school but that's in England

only labor want to abolish non-dom

status completely to stop people

avoiding paying tax in the UK the lib DS

want to give each parent 6 weeks of use

it or leave it leave as well as 46 weeks

of Parental leave that they can use

between the two parties greens will push

for a wealth tax this will tax the

wealth of individual taxpayers with

assets above 10 million 1% and assets

above 1 billion at 2% annually in their

own words only a very small minority of

people would be subject to the wealth

tax while the overwhelming majority

would benefit at reform I'm sure you

don't need me to mention will freeze

non-essential immigration as well as

perhaps a radical idea of giving NHS

patients a voucher if they can't see a

GP within 3 days for a consultant it

would be 3 weeks for an operation 9

weeks and they say services will always

be free at the point of use so that's a

stuff I think will mostly affect our

money there's more details each specific

policy but I won't go too specific on

that let's talk about the actual

investment side of things now in terms

of Isis the word Isa was actually

mentioned a whopping zero times across

all of the manifestos so we're left in

the dark on that one it would have been

really nice to see something regarding

the British Isa or the lifetime isers or

some kind of simplification of the

system we could assume that means

nothing will happen but it does

unfortunately I feel leave them all open

to interpretation so nothing on that for

now if that does change I will let you

know as soon as I do so if you aren't

already make sure you subscribe with

notifications on so you don't miss it

pensions however we do have some changes

coming and here are the most noticeable

ones that will affect us the

conservatives are planning no new tax

changes on pensions and said they will

maintain the 25% tax-free lump sum labor

have said that labor will also act to

increase investment from Pension funds

into UK markets we will adopt reforms to

ensure that workplace pension schemes

take advantage of consolidation and

scale to deliver better returns for UK

Savers and greater productive investment

for UK PLC we will also undertake a

review of the pensions landscape to

consider what further steps are needed

to improve pension outcomes and increase

investment in the UK markets the lipm

have said that they will require Pension

funds and managers to show that their

pension portfolios are consistent with

the Paris agreement which essentially

means ensuring the Pension funds are

investing in green companies or

companies with a focus on climate change

greens have two big changes the first is

to make pension funds remove fossil

fuels from the assets by 2030 and the

second is to lower pension tax relief to

20% from 40% for the higher rate earners

a pretty big blow to the higher rate

taxpayers utilizing pension

contributions they say this would help

pay for social care they four mon a

review pension provision they say that

the current system is riddled with

complexity huge cost and poor returns

leading to less uptake countries like

Australia do savings and pensions much

better and cheaper and do it from a much

younger age the o plans around

infrastructure which could impact

pensions they say that the British

taxpayer needs to be in control of

Britain's utilities the launch a new

model brings 50% of each Equity into

public ownership the other 50% would be

owned by UK Pension funds benefiting

from new expertise and better management

these changes for me are quite mixed

personally and perhaps selfishly I don't

want them to lower the pension threshold

contribution to 20% for the higher rate

honestly when you look at the stats the

vast majority of the nation don't have

enough in their pensions as it is I

don't think we should be discouraging

people from putting money into their

pensions it would also tighten the gap

between the iser and the Sip and more

people would lean towards the ISA which

of course they get no tax money from

whatsoever the glaring problem from all

of these is forcing Pension funds to

have UK based assets if we compare for

example the S&P 500 to the footy 100 or

footy 250 you can see the huge

difference in performance personally

what needs to happen is much more

control everyone should be allowed to

have the pension in their own lowc cost

index tracker that tracks the global

markets and matches the stock market

performance not to be forced into some

worse performing option it shouldn't be

the job of an ordinary person to prop up

UK companies using their pension by any

means in my view especially at their

expense there's a couple of other party

specific policies which I think are

quite interesting the lib Dems are

proposing a 4% tax on share buyback

schemes of 4100 listed companies to

incentivize productive investment job

creation and economic growth the idea

would be to get them to reinvest in the

company rather than buying back shares

they suggest would generate a revenue of

1.4 billion this is based on a similar

policy in the USA from the Biden

Administration and seems a bit strange

it's been criticized by senior

economists who said that they would be

surprised if a 4% tax raised much

revenue at all to a large extent I would

expect companies to just stop using

share buyback schemes and just pay

dividend instead if they wanted to

return the money to shareholders there's

no clear justification for the policy

it's an interesting idea they tried to

come up with but there's so many factors

of play into this like the fact we hold

most of our investments in Isis and sips

where we're not applicable to tax on

those dividends and here in the UK we

own quite low amounts of UK equities

compared to the world where for example

in the USA they own a lot more of us

companies which is understandable I

would simply just see them Distributing

cash as dividends instead and the green

party want to make a change to the FCA

Financial conduct Authority will develop

targets to eliminate all equities

relating to fossil fuel exploitation

from UK stock market and will

immediately prohibit the issuing of new

shares for those purposes no surprise

here really from the green party energy

currently makes up 12.9% of the footsy

and it'd be interesting to see what

effect this would have but energy tends

to do well in times of high inflation

but that may change but that may change

when and if the new proposed windfall

taxes it introduced on them suggested by

labor and the lib Dems and if labor do

set up Great British energy this could

also have a huge impact on the energy

sector if it goes ahead so there could

be a lot of turbulence in that sector

going forward I think having read

through these manifestos multiple times

I created this comparison what I find

sad almost is how all of this just

divides people so much depending on your

personal circumstance and Views if I was

to look at this at just a surface level

view reforms policies would give me the

most financial gain personally

regardless if you were to agree with

other policies or not how viable you

think that is is open to inter

reputation it's clearly not the only

Factor we need to consider as it's much

more complex than that can you imagine

if you could just cherry pick or we

could just vote on each of these

policies that we believed in as a nation

as I think most of us would agree and I

think if I'm completely honest I

probably feel like most of you I don't

want to vote for the conservatives I

don't really want to vote for labor and

I just feel kind of lost in the middle

and I don't really like any of them can

you imagine if these parties instead of

poking holes and bickering at one

another actually work together to

achieve something it all seems like such

a big waste of taxpayers money to me no

matter what happens we'll get through it

and as always I will do my best to keep

you updated as things progress I put

these side by side as I want you to have

as much transparency and material as you

can please do go ahead and read the

manifesto yourself so you can fully

understand it and make up your own mind

and most of all let's be kind to one

another if you want to take some steps

that could help to improve your finances

then this video right here could help

thanks