Britain: the road to May 2015
The parties have laid out their plans for the future of Britain. But will any of them get to put their schemes into action?
Now that the Scottish referendum is over, eyes are turning to the next big British political event – the general election in May 2015. Clearly there is little that investors can do to influence the outcome (beyond voting), so you might feel that there’s little point in worrying about it. Yet while we wouldn’t lose sleep or make massive changes to your portfolio ahead of the event, it’s worth being aware of what might happen both before and afterwards so you can be prepared.
It may be one of the most unpredictable elections that Britain has seen in some time. We have an unpopular coalition government riven by internal strife, facing an opposition led by an unpopular leader. Throw in the wild cards of a rapidly growing populist party in the form of Ukip, and on top of that, the political fallout from the Scottish referendum, and the upshot is that it’s anyone’s to win or lose.
The good news is that the party leaders set out their stalls pretty clearly at the party conferences, reverting to type in the process – the Tories went for tax cuts (eye-catchers include major changes to pensions that could effectively provide a way around inheritance tax, and a promise to up the threshold for paying higher-rate income tax substantially), alongside more benefit reforms.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Labour’s Ed Miliband meanwhile has promised windfall taxes on everyone from tobacco companies to utility firms to owners of properties worth more than £2m. Whoever gets into power (and clearly one of these options is more investor-friendly than the other), they won’t be celebrating long, if at all – they will have to find a way to tackle the UK’s hefty debt levels, while grappling with the divisive question of Europe.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
India's lengthening working week
Under The Radar Fourteen-hour work days, meetings during holidays, and no overtime are just part of the job in India's workplace culture
By Harriet Marsden, The Week UK Published
-
Crossword: October 7, 2024
The Week's daily crossword
By The Week Staff Published
-
Sudoku hard: October 7, 2024
The Week's daily hard sudoku puzzle
By The Week Staff Published
-
The pros and cons of investing in crypto
The Explainer Should you hop on board the cryptocurrency train?
By Becca Stanek, The Week US Published
-
How do presidential elections affect the stock market?
The explainer If you are worried, take heart: Market changes in response to what is happening politically are likely to be short-term
By Becca Stanek, The Week US Published
-
A beginner's guide to passive income
The Explainer Smart ideas for making money with low-maintenance investments
By Becca Stanek, The Week US Published
-
4 tips to keep your emotions out of investing
The explainer It's normal to feel worried about dips in stock prices or excited about an investment opportunity — but do not let it cloud your judgement
By Becca Stanek, The Week US Published
-
4 tips to minimize taxes when investing
The Explainer It's important to know how much of your investment income is getting diverted to taxes
By Becca Stanek, The Week US Published
-
4 tips to build an investment strategy for the long term
The Explainer This kind of financial strategy can serve you for years to come
By Becca Stanek, The Week US Published
-
What to know amid the rise of separately managed accounts
The Explainer SMAs can provide tax advantages, but investment minimums may be steep
By Becca Stanek, The Week US Published
-
What are the Magnificent Seven stocks and why do they matter?
The Explainer It might seem like a no-brainer to dump your money into these Magnificent Seven stocks — but not so fast
By Becca Stanek, The Week US Published