What could the General Election mean for the UK’s future?
With Boris Johnson meeting the Queen last Wednesday at Buckingham Palace, a general election has been set for 12th December. In his campaign pledge today, Johnson, leading the Conservatives into his first general election as leader, looks to launch his campaign on the basis of seeing Brexit ‘over the line’, diametrically opposed to Jeremy Corbyn’s leadership of ‘more dither and delay’. This election seems to be the most important for quite some time, with commentators struggling to predict the result. Has the traditional Conservative voter become disillusioned by the compromising morals of Johnson, in a Trumpean manner in the United States? Or does Corbyn and the Labour Party offer a completely unattainable, socialist utopia, with radical reforms that would not survive parliamentary arithmetic? Has the damage been done in terms of party scandals with Islamophobia and Anti-Semitism respectively, that finally now the politics of centrism under the Liberal Democrats will finally do away with a two party state. To be commercially aware requires clear knowledge of the major political parties’ flagship polices in the lead up to this election.
Conservatives
Brexit deal to be implemented, and Brexit to take place before 31st January
“Infrastructure Revolution” with money for broadband, roads, the NHS, schools and police
announced £120m to pay for extension of technical education colleges and £400m for school improvements at academies and sixth-form colleges.
Raise the National Living Wage to £10.50 in the next five years for over-21s.
Labour
Renegotiate a deal with Brussels, likely along the lines of remaining in a customs union and closely tied to the single market. Supports the Peoples Vote once deal finalised.
Increase income tax rates to 45 per cent for salaries over £80,000 and to 50 per cent for salaries over £123,000. Would spend £250bn on upgrading the UK’s transport, energy and broadband infrastructure.
Would scrap the £9,250 tuition fees. Create National Education Service based on the NHS. Would abolish Ofsted and likely to reintroduce Sure Start centres.
Cut the average working week to 32 days within ten years, but without a loss of pay. Zero hours contracts and unpaid internships would also be banned. Union legislation would be repealed. Introduce a UK-wide minimum wage of £10 an hour.
Liberal Democrats
Jo Swinson government would revoke Article 50 and cancel Brexit.
Reform the tax system including demanding multinational corporations “pay their fair share in taxation”, double spending on innovation and research, and increase spending on public services and entrepreneurship.
Reverse cuts to school funding, triple the funding for early years pupil premium for children from disadvantaged backgrounds to £1,000, give teachers a pay rise at least in line with inflation and spend more money on teachers’ professional development.
Consult on a “genuine” Living Wage, introduce “good employer” kitemark for firms who pay a living wage and avoid unpaid internships, reform employment rights for the gig economy and stamp out abuse of zero hours contracts by allowing formal right to request a fixed contract, and scrap employment tribunal fees.
