Labour Party's 2024 Election Manifesto
Key Pledges and Analysis
The Labour Party has unveiled its 2024 election manifesto, outlining the plans and policies it intends to implement should it win the election on July 4th. BBC correspondents have delved into some of the most notable pledges made by the party.
'Wealth Creation' for Working People
Labour positions itself as the party of "wealth creation," aiming to improve living standards for working individuals. Despite economic growth, the typical person is only 5% better off than they were at the end of the 2008/2009 financial crisis. Central to Labour’s strategy is boosting investment, which has been stagnant since 2016. The party hopes increased investment will fund training, skills, technology, and infrastructure, enhancing productivity, where the UK lags behind many international peers.
However, businesses require more than just good intentions. The manifesto offers relatively few concrete policies, aside from planning and education reforms, to stimulate business investment. While Labour plans £3.5 billion in public "green" investments, this pales in comparison to the multi-hundred-billion-dollar packages in the US under President Biden.
Plans to Raise £8bn - But No Surprises
Labour’s manifesto includes modest tax and spend plans, with £8 billion in revenue-raising measures. These measures include altering non-dom tax status, clamping down on tax avoidance, applying VAT to private schools, and introducing a windfall tax on large energy firms. The funds will be allocated to green investment, NHS operations, mental health staff, expert teachers, and initiatives like breakfast clubs at primary schools.
Private School Fees Tax to Pay for State School Teachers
Labour proposes adding 20% VAT to private school fees to fund 6,500 additional teachers in England’s state schools. This move, seen by some as a tax on aspiration, may push a small proportion of students from private to state schools. The Institute for Fiscal Studies estimates this tax could raise up to £1.6 billion annually, but the exact use of these funds remains unclear.
Building 300,000 Homes a Year
Labour’s pledge to build 1.5 million new homes in England over the next five years demands a level of housebuilding not seen since the 1960s. With fewer than 150,000 homes started in the last year, achieving this target would be challenging. Labour believes that planning reforms and changes to land pricing could boost private sector housing provision, but the scale of the ambition requires significant contributions from housing associations and local councils.
A 2030 Ban on Petrol and Diesel Car Sales
Labour plans to reinstate the 2030 ban on the sale of new petrol and diesel cars, providing certainty to manufacturers. The party aims to encourage the switch to electric vehicles by standardizing information on battery conditions and accelerating the installation of charge points.
A New Border and Security Command for the UK
Labour intends to scrap the Rwanda scheme, which aims to deter Channel crossings, and redirect £75 million from it to establish a new Border and Security Command. This new command would have enhanced powers to monitor and restrict smuggling activities, though significant challenges and the need for international cooperation remain.
£24bn for Green Initiatives
Labour's largest spending commitment is £23.7 billion for green measures over the next parliament. This includes £1.7 billion annually for the Great British Energy company to accelerate renewable and nuclear power rollouts and create 650,000 jobs by 2030. An additional £1.1 billion per year is allocated to improve energy efficiency in UK homes.
An 'Absolute' Commitment to Nuclear and NATO
Labour under Sir Keir Starmer emphasizes a clear break from previous leadership, reaffirming an "absolute" commitment to the nuclear deterrent and an "unshakeable" commitment to NATO. A full review of the UK’s defence needs will determine future spending commitments.
40,000 More NHS Appointments and Operations
Labour promises to create an additional 40,000 NHS appointments and operations annually by expanding weekend services and utilizing the private sector. The funding will come from changes to non-dom tax arrangements. The Nuffield Trust highlights a "stunning lack of detail" in how these improvements will be funded.
'Home-First' Care
Labour aims to establish a National Care Service with national standards for care quality, focusing on "home first" care to promote independent living. The party plans to improve pay and conditions for care workers and guarantee care home residents the right to see family members.
Plan to Reduce Backlog of Rape Cases
Labour proposes dedicating crown court space for rape cases to reduce the backlog, though this is a reallocation of existing resources rather than new spending. The criminal justice system faces a shortage of experienced barristers and judges, and significant funding is needed to address these issues.
Tackling Ticket Touts
Labour aims to tackle ticket touts by strengthening consumer rights legislation, restricting ticket resales, and making platforms like Ticketmaster and Facebook more accountable. This plan seeks to make cultural activities more accessible and affordable.
