In the final week, is it a two-horse race?

Author: Tim Parker

Chartered Financial Planner, Associate Director - Member of the Investment Committee

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Published:  June 2024


As all political parties continue campaigning into the final week ahead of the General Election, this week saw the final of the live TV debates with Rishi Sunak and Sir Keir Starmer, hosted by Mishal Husain.  Mishal introduced the programme, saying “In nine days’ time one of the two men standing here will be Prime Minister.”

It may be a two-horse race, but Labour and Conservative are seeing their vote share being eaten into by the other parties.

Based on the debate, the snap polls indicated that neither side won the debate as it was 50:50, with neither wanting to move off their predetermined scripted replies.

One of the areas of focus was ‘retirement tax’ which Sunak questioned if Labour gets into power, that their plan is to tax the state pension.  He cited the Tory promise of the triple lock plus policy which would mitigate that risk, with the Tories pledging to increase the personal allowance for pensioners to £13,710 by 2027-28 tax year.

Another area that Rishi Sunak challenged on again, was the increase of tax by up to £2,000 per family if Labour did form the next government.

There seems to be a theme here in which the Conservatives believe that people would be financially worse off under a Labour government, but will many people trust the Tories as yet another political scandal unravels in the wake of betting on the general election; although the Labour Party do not seem to be squeaky clean on the betting rules either!

As we draw to a close on our General Election blog series, it is now in the public hands to decide.

Will it be a Conservative or Labour government for the next 5 years?  We will know this time next week.

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Opinions constitute our judgment as of this date and are subject to change without warning.  The value of investments and the income from them can go down as well as up, and you may not recover the amount of your original investment.

The information in this article is not intended as an offer or solicitation to buy or sell securities or any other investment, nor does it constitute a personal recommendation.

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