An outline of the Labour party and its leader’s promises, leading up to and throughout the election.
With the run up to the election heating up every day, it was Labour and Ed Miliband’s turn this week to explain exactly what they will do if they win the votes of the British people on May 11th. The 86-page manifesto, which is 20,421 words long, sets out Labour’s main policy pledges, with many of them having been previously promised by the Labour leader himself.
The main policies are:
- Raising the minimum wage to more than £8 by the end of 2019
- A one-year freeze in rail fares, costing £200m, paid for by delaying upgrades to the A27 and A358 trunk roads
- Twenty-five hours of childcare for working parents of three and four-year olds and a new right to pre and after-school help, paid for by rise in bank levy
- Freezing gas and electricity bills until 2017, so they can only fall not rise
- A £2.5bn fund for the NHS paid for largely by a mansion tax on properties valued at over £2m
- Scrapping winter fuel payments for the richest pensioners, capping child benefit rises and protecting tax credits
- A 50p tax rate on incomes over £150,000 a year and abolishing non-dom status. Rises in VAT and national insurance ruled out
- A cut in university tuition fees from £9,000 to £6,000
The most high profile, and probably most publically welcomed, of these promises is the abolishment of nom-dom status. Last week Ed Miliband got the ball rolling with the Labour party election pledges and announced that under Labour rule, the nom-dom status (which, in a nut shell, enables super-rich people of dual nationality to avoid paying full UK tax despite residing here for most of the year) would be introduced. This announcement from Miliband and his party is a further attempt at closing the loop holes in the British tax system.
Yet Miliband hasn’t stopped there. He has further pledged to secure further tax from the super-rich in order to ensure desperately required extra funding for the NHS (£2billion to be precise). Such tax includes introducing the 50p tax rate on incomes over £150,000 a year, as well as the hotly debated Mansion Tax. The latter was the first of Labour’s pledges for the 2015 election. Yet it has been widely criticized for not only hitting those of super wealth, but others less better off, all because the definition of “Mansion” is very ambiguous.
In correspondence with the Tories, Labour and Miliband have promised to tackle the rise in rail fairs with a one year freeze.
Ed Miliband ruthlessly promised that the Labour promises, pledges and manifesto policies are one of a kind in this year’s election, as they do not require further borrowing and clearly label where the money is coming from and going to. He added further that the deficit will be cut annually and, unlike what his opponents regularly accuse him and his party of, Labour will not over-spend to meet the promises of their manifesto.
– Izzy Lyons, Correspondent (Politics)
Image Courtesy: Riots Panel (https://www.flickr.com/photos/riotspanel/6841226360), Licensed under the Creative Commons Attribution-NoDerivs 2.0 Generic | Flickr