Labour win: What is their manifesto?

Grasping a large majority in the last general elections, Sir Keir Starmer will have a lengthy list of pledges to fulfil. Rebuilding the nation’s economy and reducing the cost of living are the two main priorities, however Labour’s to-do list has many more key points they are planning to introduce that could have a significant impact on your personal life.

Labour’s top priorities

• Reduce the cost of living
• Boost up and stabilise the economy
• Reduce NHS waiting time and increase the number of doctors
• Increase the number of teachers
• Control immigration and asylum seekers

Labour and the economy

Labour aims to establish a new industrial strategy which will boost economic growth. They are planning to create a National Wealth Fund for green investments and strengthen working rights by introducing the New Deal for Working People. For Labour to support the high street business, new rates will be introduced.

Labour and education

More than 6,000 teachers are planned to be recruited¹ and Ofsted is going to receive a facelift which will then focus on supporting schools and not only disciplining. Breakfast clubs will be introduced in all primary schools and a new digital skill curriculum implemented.

Labour and immigration

Labour is planning to stop people smuggling guns into the country, cancelling all asylum seekers' flights to Rwanda and ending the use of asylum hotels. They also want to encourage help for refugees in their homelands and to ban employers who break foreign employment laws. The new Labour government is also planning to end the reliance on foreign workers in specific sectors.

Labour and the cost of living

The new government vowed to freeze the income tax, national insurance and VAT rates, transform the minimum wage into a figure people could live with and increase workers’ rights from day one. Labour promised to expand childcare facilities, protect the state pension and cut energy bills with the National Warm Home Plan.

Labour and the NHS

Labour is planning to pay NHS staff more to work evenings and weekends which they say will reduce the waiting time. GP face-to-face appointments will be prioritised and three to five-year-olds will even be entitled to free tooth brushing supervision. More than 8,500 mental health staff will be recruited¹ and a National Care Service for setting standards of social care is planned too.

Labour’s bottom line

Sir Keir Starmer for sure presents a comprehensive plan which, if implemented, will have a significant impact on economy growth, the property market and the overall cost of living. The new government is determined to succeed as it will be crucial to determine whether Labour is able to bring meaningful progress to the British people.

Sources:

1.    https://www.bbc.co.uk/news/articles/cml2en8xlxko

All the information in this article is correct as of the date of publishing. The opinions expressed in this publication are those of the authors Euxton Mortgage Market. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

July 2024