London, by Thanasis Gavou

The election programs of the two major parties in the United Kingdom are quite restrained and without particularly bold declarations in terms of finances.

The “manifestos” of Workers and of Conservatives they contain balanced revenue-expenditure commitments for the coming years, but with independent analyzes of the measures suggesting a “conspiracy of silence” as to the need to raise taxes.

Rishi Sunak’s Tories continue to warn of the risk of big tax rises under Labour. They also point to the significant drop in inflation in recent months, arguing that “the plan is working” and that they should be given more time to revive the economy.

Sir Keir Starmer’s Labour, tight-lipped about the details of some measures, are stressing the need for “change” after years of instability, precision and scandal under the Tories.

Labour’s proposed measures, which have sparked the most debate, are the introduction of VAT on private school fees and the largest one-off tax on oil and gas company profits.

In terms of spending, the key commitments are funding measures to reduce NHS waiting times and the recruitment of 6,500 teachers.

In total, Labour’s election manifesto outlines spending of no more than £10 billion (with revenue of £9 billion) while Jeremy Corbyn’s 2019 manifesto predicted spending of £83 billion.

The measures proposed by the Conservatives are more or less at the same level in terms of economic data (16 billion pounds in revenue, mainly through a reduction in welfare benefits and public spending, but also through cracking down on tax evasion and tax avoidance) and spending 15 billion.

By contrast, Nigel Farage’s Reform UK promises spending of £141 billion and the Greens £214 billion. The Lib Dems’ pledges, which mainly concern the NHS and social care, amount to £27bn of spending.

Beyond that, Rishi Sunak has proposed reinstating compulsory 18-year-olds in the armed forces or social services and significant tax breaks for the self-employed and pensioners.

On immigration, the Conservatives are insisting on deporting irregular migrants to Rwanda, while Labor says it will scrap the law and use the £75m it costs to set up a new Border Security Agency.

Keir Starmer has also made it a priority to create a public energy company, Great British Energy, with a focus on green energy.

In matters of foreign policy, Labor differs from the Tories mainly in the will to pursue a closer and smoother relationship with the EU (without re-integration) and in the readiness to recognize a Palestinian state more quickly.

About 46 million voters aged 18 and over are asked to choose on these government proposals. Polls open at 7am local time and close at 10pm.

The bulk of the results are expected to be known in the early hours of Friday.