Keir Starmer struggles to define 'working people' tax pledge

Published On Oct 25, 2024, 5:47 AM

Sir Keir Starmer, the leader of Labour, faces scrutiny over tax policy as the party prepares for the upcoming Budget, with promises not to raise taxes on 'working people'. There's uncertainty about how 'working people' are defined, particularly for those who generate income from assets like shares or property. Labour has not clearly delineated if such individuals will be impacted by potential tax increases, including possible changes to capital gains and inheritance taxes. The ambiguity surrounding the definition of 'working people' is causing concern as it relates to ongoing commitments from their election manifesto.

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Stock Forecasts

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Given the potential for tax increases on assets such as shares, investors may become cautious about equity investments in the UK. The lack of clarity over tax impacts may lead to volatility in this sector as market participants react to the proposed changes. Investors should monitor Labour's Budget announcement closely as it may create uncertainty in the equity markets.

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