Labour are promising to grow the economy and pull the UK out of the crisis they argue the conservative led the country to. They will do this by prioritising funding into areas that need it, education, the NHS and working people.


  • They have pledged to end the tax exemptions for private school and start charging them VAT to use this money for state school improvements. They plan this will raise around £1.7bn which could be used for mental health support in schools as well as improving teacher pay.
  • Clamping down on tax avoidance has been on numerous party pledges which means ensuring the wealthy are paying their fair share for the economy.
  • Starmer has rejected the potential idea that Labour will be increasing National insurance and has said they will cap corporation tax at the current 25%.
  • They plan to invest £4bn for the green prosperity plan for GB energy, a National wealth fund and insulation plans funded by borrowing more money.


Could Plans to raise funds ultimately backfire?

Political parties make promise to fund and support certain aspects, this year there has been a focus on improvements in the NHS, education, Water companies regulation amongst others. To spend in these areas there must be money to be made and this will come from raising taxes, cutting spending in other areas or borrowing money. So, when a political party promises something there must be a plan to back it up, where is all the money coming from to support their pledges?


Labour are focusing on raising money by taxing the wealthy and large corporations such as oil and gas. Through this there could be a large pot of money to spend on the public sector and in theory we would all be happier with having a shorter wait time at the doctors or with extra pay for our work. However, by taxing the large companies, how will they stop those companies pouring this burden onto the consumer by increasing their prices?

No party so far has mentioned how this will be regulated and very little has been said about how the economy will truly grow through their plans.