Yet More Party Politics

After a brief show of quasi-unity during the Scottish referendum campaign, it is back to business as usual for the politicians with Labour starting off the conference season.

The next general election is now about seven months away. So this autumn’s political conference season represent the parties’ final major gatherings before the polls open. First off was the Labour party, which remains ahead in the polls and the bookies’ current favourite. So what did we learn about a future Labour Government’s tax policies?

The honest answer is very little. In his conference speech Ed Balls:

Mr Miliband’s speech was hardly more enlightening:

Ironically, on the morning of the day Mr Miliband gave his speech, the Office for National Statistics published the latest Government borrowing figures showing that in the first five months of 2014/15. These revealed that the Government had borrowed £45.4bn, £2.6bn more than in 2013/14. Whichever party (or parties) form the next Government, it remains the case that if you want to cut your personal tax bill then, to borrow one of Ed Miliband’s conference tag lines, “you’re on your own.” Although, of course, we are happy to give advice.

Tax laws can change. The Financial Conduct Authority does not regulate tax advice.