A special edition: Election 2024
Why investors need to keep focused on long-term financial goals.
As the rain poured down, D: Ream’s “Things Can Only Get Better” played in the background while the Prime Minister rallied the nation to support him over Labour leader Keir Starmer. At the time of writing, the main political parties, Conservative and Labour, had not yet released their full manifestos, which are expected to be unveiled in the coming weeks.
In times of uncertainty, such as during a general election, it is important to review your finances to ensure stability amid potential economic fluctuations. Changes in economic policies, taxation, and public spending could significantly impact the nation’s economic landscape and your personal finances.
Shadow chancellor Rachel Reeves has promised that if Labour wins the general election, there will be “no additional tax rises” beyond those she has set out. In her first major election campaign speech, Ms Reeves said that every Labour policy “will be fully funded and fully costed – no ifs, no, no buts”.
However, Prime Minister Rishi Sunak claimed that Labour’s plans will cost “every working family” £2,000 each.
By reviewing your finances, you can identify areas to cut costs, bolster savings, or adjust investments to mitigate risks. Staying informed and proactive can help safeguard your financial well-being, allowing you to make informed decisions despite political and economic changes.
Read our 10-page “A Special Edition: Election 2024” below.
This guide does not constitute tax or legal advice and should not be relied on as such, tax treatment will depend on your own individual circumstances.
