What will the general election mean for your taxes?

The Institute for Fiscal Studies has accused the Conservatives and Labour of a “conspiracy of silence”. Will your tax bill go up, no matter who wins the election?

Chancellor Jeremy Hunt and shadow chancellor Rachel Reeves walking through the Houses of Parliament.
Could Rachel Reeves replace Jeremy Hunt as chancellor? As the 4 July polling day nears, we take a closer look at the tax policies announced by Labour and the Conservatives
(Image credit: Getty Images)

Politicians like to hand out sweeteners as voters head to the ballot box – and taxes are one way of doing it. But they also have to find the money to fund their spending pledges once they are elected. 

Both the Conservatives and Labour have published their manifestos in recent weeks, promising to freeze or cut a number of different taxes. This has prompted the Institute for Fiscal Studies (IFS) to accuse both parties of a “conspiracy of silence”. 

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.