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Political Party Promises for Key Policy Areas According to Letting Agents

Political Party Promises for Key Policy Areas According to Letting Agents

Landlords and lettings agents believe that house-building policies are important when determining who to vote for.

Here’s a summary of what each political party promises in critical areas such as cost of living, the NHS, and taxes.

Key Policy Areas for Letting Agents

House-Building Policies

  • Labour Party: Pledges to deliver 1.5 million new homes by the next parliament, support local authorities with additional planning officers funded by increased stamp duty for non-UK residents, and prioritize urban brownfield site development.
  • Conservative Party: Plans to build 1.6 million homes, fully expense brownfield housing delivery, and abolish EU “nutrient neutrality” rules to unlock 100,000 new homes.
  • Liberal Democrats: Aim to build 380,000 new homes annually through new garden cities and community-led developments, with financial incentives for rural exception sites and brownfield site expansion.

Cost-of-Living Policies

  • Reform Party: Proposes unlocking oil and gas reserves, cutting energy taxes, and saving households over £500 per year. Plans to reduce fuel duty by 20p per litre and scrap VAT on energy bills and environmental levies.
  • Green Party: Plans to support the poorest by increasing universal credit and legacy benefits by £40 per week, abolishing the two-child benefit cap, ending the ‘bedroom tax’, and introducing a universal basic income.
  • Scottish National Party (SNP): Intends to deliver independence, provide urgent support for household finances, and reduce the impact of rising interest rates and inflation. They propose statutory social tariffs on energy, broadband, and mobile charges, and an annual uplift in Local Housing Allowances.

NHS Policies

  • Plaid Cymru: Promises fair funding from Westminster to invest in the Welsh NHS, restore the Welsh health budget, and recruit 500 GPs over two terms. Plans to expand degree apprenticeships in healthcare.
  • Conservative Party: Plans to increase NHS spending above inflation annually, recruit 92,000 more nurses and 28,000 more doctors, and implement “The NHS Long-Term Workforce Plan,” including expanding Pharmacy First, building or modernizing 250 GP surgeries, and creating 50 more Community Diagnostic Centres.
  • Reform Party: Aims to eliminate NHS waiting lists, cut back office waste, and spend more on frontline services. In the first 100 days, they plan to end doctor and nurse shortages and offer tax relief for private healthcare and insurance.

Tax Policies

  • Labour Party: Commits to economic stability by maintaining low taxes, inflation, and mortgages. They will not increase National Insurance, basic, higher, or additional rates of Income Tax, or VAT.
  • Liberal Democrats: Plan to reverse tax cuts for big banks, impose a one-off windfall tax on oil and gas super-profits, and empower HMRC to tackle tax avoidance and evasion.
  • Green Party: Advocates for taxing wealth fairly and borrowing to invest, with a 1% annual tax on assets over £10 million and reforms to align Capital Gains Tax rates with income tax rates.

The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances.

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July 2024