Tax & the economy

Who pays what, and what the state can afford as a result. Parties are ordered left to right by our placement on the spectrum, and each line is the position in brief.

1. 

   Green

   Zack Polanski

   10.6%

   Wealth taxi on assets over £10m; £15 minimum wage

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   A wealth taxi of 1% a year on individual assets above £10m and 2% above £1bn, which the party says would raise £15bn a year. Alongside it, a £15 minimum wage and a four-day working week.

   Economists dispute wealth-tax yields of this size, pointing to valuation difficulty and behavioural response; the party treats the figure as its own costing.

   Check itWhat are the Green Party's economic plans?, Economics Observatory

   -8

2. 

   Labour

   Andy Burnham

   26.1%

   Act on the frozen personal allowancei; wealth taxi not ruled out

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   Action on the income tax personal allowancei, frozen at £12,570, which Burnham called "the thing I heard most on the doorsteps". Business ratesi would rise on large warehouses while high-street shops and pubs are exempted. He has not ruled out a wealth taxi.

   A £4.7bn gap in the existing spending plan is to be "confirmed at Budget 2026", so the funding is not yet set out.

   Check itAndy Burnham's main policy pledges, Yahoo News

   -3

3. 

   Lib Dems

   Sir Ed Davey

   10.3%

   £9.4bn for care and the NHS from bank and capital gainsi taxes

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   A £9.4bn package for social care and the NHS, funded by higher taxes on banks and tighter capital gainsi rules for the very wealthy.

   Check itLib Dem social care proposals examined, The Conversation

   -2

4. 

   Conservative

   Kemi Badenoch

   20.3%

   Scrap stamp dutyi; £23bn of welfare savings

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   A stated "fully funded" plan to scrap stamp dutyi, and £23bn of savings from welfare: framed as ending Britain's "welfare addiction" and building a high-growth, low-immigration economy in which reform expands the domestic workforce rather than immigration filling the gap.

   Check itWhy only the Conservatives can fix Britain's problems, Conservative Home

   +3

5. 

   Reform

   Nigel Farage

   22.9%

   Around £70bn a year of tax cuts

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   Around £70bn a year of tax cuts, with family-focused measures including a 25% marriage allowance and child benefit front-loaded into the early years.

   Independent economists have repeatedly questioned whether cuts on this scale can be funded without deep spending reductions the party has not specified.

   Check itReform UK manifesto: policy breakdown, London Daily

   +6

6. 

   Restore

   Rupert Lowe

   4.4%

   Libertarian outlook: smaller state, lower taxes

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   The party describes its economic outlook as libertarian, favouring a smaller state and lower taxes.

   No costed fiscal programme published.

   Check itRestore Britain and its proposed policies, National Media

   +7

6 of 6 parties have a position we could source on this. A blank row may mean the party has said little, or that we have not found what it has said.