Other parties
Key policies
Pension Triple Lock
Green Party The Green Party does not support the pension triple lock. Its policy is that pensions will be uprated in line with inflation and keep pace with wage rises.
SNP
SNP policy is to maintain the triple lock and move towards delivering a “well-being pension”, which currently means increasing the state pension by 6.2% to £12,220 (£235 per week).
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Taxation of pension contributions and withdrawals
The other parties' manifestos do not include policy commitments on this issue.
Pension lifetime allowance (LTA)
The other parties' manifestos do not include policy commitments on this issue.
Inheritance Tax (IHT)
Liberal Democrats The Liberal Democrats have no plans to change IHT in their manifesto. Reform UK Reform UK will exempt all estates worth under £2m from IHT. Green Party The Green Party plans to reform inheritance tax to ensure “that intergenerational transfers of wealth are taxed more fairly”.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Edinburgh and Mansion House Reforms
The other parties' manifestos do not include policy commitments on this issue.
ISAs
SNP
SNP policy is to reintroduce a simplified Help to Buy ISA for first time buyers.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Pension fund consolidation
The other parties' manifestos do not include policy commitments on this issue.
Regulating financial services to encourage climate-friendly investments
Liberal Democrats In particular the Liberal Democrats want to require “pension funds and managers to show that their portfolio investments are consistent with the Paris agreement”. Depending on the detail, a policy of this nature may require pension funds to divest from all assets that are not Paris agreement aligned, including investments in transitioning and impact assets, which could both cause losses to beneficiaries and be counterproductive in relation to achieving Paris agreement goals. Green Party Green Party policy is to require non-bank financial institutions including pension funds, investment funds, mutual funds, brokers and insurance companies that sell policies in the UK, to divest from fossil fuel assets by 2030.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Getting pension schemes to invest into the UK shares and assets
The other parties' manifestos do not include policy commitments on this issue.
Allocation of funds freed up by Solvency II reforms
The other parties' manifestos do not include policy commitments on this issue.
Directing private capital into infrastructure
Green Party Green Party policy is to make financial services a force for good and direct finance towards the businesses that are critical to creating a better future for all.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Local government pension schemes
The other parties' manifestos do not include policy commitments on this issue.
Disposal of remaining taxpayer stake in NatWest
The other parties' manifestos do not include policy commitments on this issue.
Financial services regulators
Liberal Democrats The Liberal Democrats want to introduce a national financial inclusion strategy and require both the Financial Conduct Authority and the Prudential Regulation Authority to have regard to financial inclusion. This would include protecting access to cash, supporting banking hubs, expanding access to bank accounts, supporting vulnerable customers and introducing Sharia-compliant student finance. With the exception of Sharia-compliant student finance and the formalisation of existing financial inclusion policy, all these initiatives are already government policy in some fashion.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Sovereign wealth fund
The other parties' manifestos do not include policy commitments on this issue.
Taxation of carried interest
Green Party Green Party policy is to tax investment income at the same rate as earned income, which implies that carried interest would be subject to income tax and national insurance. The Green Party wants to scrap the upper earnings limit for national insurance, which would increase NI on higher rate and additional rate earnings from 2% to 8%, to give a combined marginal tax rate on earned income of 53%. It is also Green Party policy to raise the rates of capital gains tax to match income tax rates, so even if carried interest were to be treated as a capital gain, it would still be taxed at a marginal rate of 45%. Plaid Cymru Plaid Cymru policy is to equalise capital gains tax rates with income tax, which would effectively increase the marginal rate of tax on carried interest currently taxable as a capital gain from 28% to 45%.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Corporation Tax
The other parties' manifestos do not include policy commitments on this issue.
Personal Tax
The other parties' manifestos do not include policy commitments on this issue.
Review of pensions
Reform UK
Reform UK’s policy is to review the current pension system which it considers to be “riddled with complexity, huge cost and poor returns leading to less uptake”. It mentions the Australian system as a model worth considering.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Delisting of fossil fuel related shares from the UK markets
Green Party
Green Party policy is to require the FCA to develop targets to eliminate all equities relating to fossil fuel exploitation from the UK stock market and impose an immediate ban on the issuing of any new shares relating to fossil fuel extraction.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Higher VAT on financial services products
Green Party
The Green Party wants to introduce a higher rate of VAT on financial services products.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
Bankers' bonus cap
Plaid Cymru
Plaid Cymru policy is to reintroduce the cap on bankers’ bonuses.
Other parties
The other parties' manifestos do not include policy commitments on this issue.
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