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It's Manifesto Time....

We held a very successful seminar yesterday at our Ludlow office, in conjunction with NFU Mutual.  Guests enjoyed presentations from head of the Private Client Department, and experienced blogger Edward Rees, solicitor Andrew Oxenham and Mark Walker - Life Sales Executive from the NFU.

Edward wrapped up the presentation with a bit of an overview of the leading parties Manifestos, as follows:

CONSERVATIVES

Key Economic

  • A one year public sector pay freeze in 2011 (excluding the one million lowest paid workers).
  • Bringing forward the date at which the state pension age starts to rise to 66, although it will not be sooner than 2016 for men and 2020 for women.
  • Stopping tax credits to families with incomes over £50,000.
     
Tax

  • VAT, Income Tax, National Insurance  - no rule out of increase.
  • Spending and Deficit Reduction.
  • Raising the Inheritance Tax threshold to £1 million.
  • Raising the stamp duty threshold to £250,000 for firs time buyers.
  • Cutting corporation tax.
  • Cutting employer National.
  • Insurance contributions for first ten employees of new businesses
  • Floor under landfill tax until 2020.

LABOUR

Key Economic

  • “Overhaul” the way government runs by cutting back-office costs, getting rid of “unnecessary” quangos, and by “sharply” reducing consultancy fees and marketing expenditure.
  • Securing the recovery by supporting the economy and more
  • than halving the deficit by 2014 through growth, fair taxes and cuts to lower priority spending.
  • Realising stakes in publicly controlled banks, introducing a global levy and reforming banking.
  • Building a high-tech economy and modernising our infrastructure.
  • Supporting business and industry to create one million more skilled jobs.
  • Creating UK Finance for Growth, bringing £4 billion together to provide capital for growing businesses.
  • No stamp duty for first-time buyers on all house purchases below £250,000 for two years, paid for by a five per cent rate on homes worth more than £1 million.
  • A National Minimum Wage rising at least in line with average earnings.

Tax

  • A new Toddler Tax Credit of £4 a week from 2012.
  • No stamp duty for first-time buyers on all house purchases below
  • £250,000 for two years, paid for by a five per cent rate on homes worth more than £1 million.
  • More help for parents to balance work and family life, with a
  • ‘Father’s Month’ of flexible paid leave.
  • Link between the Basic State Pension and earnings re-established from 2012.
  • Help people to build up savings through new Personal Pension Accounts.

LIBERAL DEMOCRATS

Key Economic


  • Breaking up the banks and getting them lending again.
  • Introducing a Banking Levy so that banks pay for the financial support they have received.
  • Setting a £400 pay rise cap for all public sector workers.
  • Restoring the link between the basic state pension and earnings.

Tax

  • Raising the threshold at which people start paying income tax to £10,000.
  • Freeing 3.6 million low earners and pensions from income tax completely.
  • Restricting Tax Credits.
  • Restoring the link between the basic state pension and earnings.
  • Introducing a Mansion Tax for properties worth over £2 million.
  • Giving tax relief on pensions only at the basic rate.
  • Taxing capital gains at the same rates as income.
  • Replacing Air Passenger Duty with a per-plane duty.
  • Closing loopholes that unfairly benefit the wealthy and polluters.
  • Reforming local taxation, including looking into scrapping the Council Tax.