Key UK Snap election campaign promises: What do candidates stand for?


We are only one day away from one of the most significant events in the UK – the General elections. Therefore, today we look into the key UK Snap election campaign promises.

6 June, AtoZForex The UK General Elections is just around the corner. The British parliamentary constituencies will elect the Member of Parliament to the House of Commons already this Thursday. Aside, the GBPUSD analysis and scenarios, we are looking into more detail the campaign promises of the various candidates.

Key UK Snap election campaign promises

The key rivals in this race are Conservative party representative and the UK Prime Minster Theresa May and Labor Party leader Jeremy Corbyn. From Liberal Democrats’ side, Tim Farron is taking part in the elections.

Today, as we are only one day away from the elections, it is high time to analyze and summarize the key points of the upcoming event. We will look into the key UK Snap election campaign promises.

Key campaign slogans

Theresa May

Key UK Snap election campaign promises

“Forward together”

 

Jeremy Corbyn

Key UK Snap election campaign promises

“For the many, not the few”

Tim Farron

 Key UK Snap election campaign promises

“Change Britain’s future”

One important fact about the looming elections – the choice will determine the UK course for the next five years. Moreover, the winner of the election will be the key negotiator of the Brexit process with the EU officials.

Let’s take a look at the key issues that are present in the UK currently and how the parties are planning to act on them. Below, we discuss the key UK Snap election campaign promises.

Brexit process

Theresa May

Mrs. May will support EU referendum outcome and go ahead with initiating the Brexit process. Theresa May promised to leave EU single market and customs union. However, she is also looking to establish “deep and special” relationship with EU in the future, including free trade and customs agreements. The leader of the Conservative party has stated: “no deal is better than a bad deal”.

Jeremy Corbyn

Labor party “accepts” EU referendum result. Yet, they would not follow May’s negotiating strategy. One of the priorities for the Brexit process – keeping benefits of membership of the Single Market and the Customs Union. Jeremy Corbyn states that leaving EU with no deal is “worst possible” way.

Tim Farron

Liberal Democrats accept EU referendum vote as permission to start negotiations to leave the EU. Tim Farron is planning to manage the country better separated from the bloc. He believes that people should vote on the final Brexit deal, with the alternative being to stay in the EU.

Immigration issues

Theresa May

Conservative party leader is promising to “reduce and control” immigration to the “tens of thousands.” She also has pledged to double immigration-skills charge that is paid by firms providing employment to migrant workers to 2,000 pounds a year.

In addition, Theresa May is planning to create the immigration policy that will bring benefits for the business industries with skills shortages.

Jeremy Corbyn

The labor party is acknowledging that the free movement of the EU nation will come to an end after Brexit happens. However, Jeremy Corbyn stated he will not “scapegoat” immigrants.

Moreover, he has promised to stop “overseas-only” enrollment practices. Mr. Corbyn plans to introduce a special fund for the help to sectors that experience pressure on services from the immigration. He is also promising to amend the immigration system as per the needs of the UK economy.

Tim Farron

Liberal Democrat is standing for the support of the continuation of high-skill immigration. He plans to create a fund to help local communities with pressure on services, just like Jeremy Corbyn.

Mr. Farron additionally seeks to establish annual debate in Parliament on skill and labor market issues in order to meet the needs of the UK economy.

Tax

Theresa May

Mrs. May is looking to raise the tax-free earnings allowance to 12,500 pounds by 2020. Moreover, higher tax banding is also about to be raised to 50,000 pounds. She plans to cut the corporation tax to 17 percent in 2020.

Jeremy Corbyn

Labor party’ representative is seeking the raise of the income tax rates for earnings over 80,000 pounds to 45 percent and to 50 percent for earnings over 123,000 pounds.

Also, Mr. Corbyn is pledging to raise corporation tax to 21 percent by 2018, to 24 percent by 2019, and to 26 percent by 2020.

Tim Farron

Mr. Farron is planning to add a penny to income tax, thus raising 6.3 billion pounds. He is looking to introduce the corporation tax to 20 percent. Moreover, his plans include the development of health and care tax.

Business conduct 

Theresa May

Conservative party’s leader is pledging to legislate the way to make executive pay packages subject to annual votes by shareholders. Moreover, she believes that the listed firms need to publish pay ratios to show the discrepancy between the executive and the ordinary pay.

In addition, she plans to increase the national living wage. Mrs. May will change the rules on mergers and takeovers.

Jeremy Corbyn

Mr. Corbyn is promising to charge companies 2.5 percent for paying employees more than 330,000 pounds. Also, he wants to raise the minimum wage to ten pounds an hour by 2020.

Labor party’s leader seeks to ban zero-hours contract that are tying workers to a job without any payment guarantee. He is also looking into the introduction of the maximum pay ratio between the executives and ordinary workers pay of 20-to-1 for the public sector and firms that are bidding for the public contracts.

Tim Farron

Mr. Farron pledges to reverse Conservative cuts to capital gains cuts. He promises to push for 40 percent of the FTSE 350 company board members to be women.

He also plans to increase the representation of the ethnic minorities and companies with 250 employees or more to public pay and employment data broken by gender, ethnicity, and sexuality.

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