The Labour Party's 2024 manifesto focuses on economic reform, tax adjustments, public welfare, and green energy initiatives.

The Labour Party’s 2024 manifesto, led by Sir Keir Starmer, has outlined several policies aimed at economic reform, tax adjustments, and public welfare improvements. Central to the manifesto are six key pledges, including economic stability, reducing NHS waiting times through 40,000 additional appointments each week, tackling border issues, addressing antisocial behaviour, launching a public energy company, and recruiting thousands of teachers. The party’s proposals also focus heavily on tax adjustments, pledging no increases on working-class income taxes but promising extensive reforms, including targeting loopholes like non-dom tax status, inheritance tax avoidance, and carried interest in private equity funds. A VAT exemption for private schools is set to be removed, generating revenue for educational improvements like hiring 6,500 new teachers and developing 3,000 nurseries. Corporate taxation will be capped at 25% to provide stability to businesses. Labour also commits to maintaining the state pension triple lock and introduces proposals for a pensions review aimed at improving retirement security and encouraging domestic investment. Their Freedom to Buy scheme seeks to assist first-time homebuyers, with additional plans for property sector reforms targeting private renters' rights and energy efficiency mandates for landlords. The Great British Energy project is another standout policy, focused on making the UK a leader in renewable energy. It involves public-sector-backed investment into green technologies and home upgrades, funded via windfall taxes on oil and gas companies. Critics, however, have raised concerns over the fiscal feasibility of these promises, suggesting that Labour’s spending commitments, within its self-imposed fiscal rules, leave little room for manoeuvre. Skepticism also stems from a lack of specificity in certain areas, such as reforms to pension tax allowances. The party’s financial sector policies also aim to stimulate innovation and attract private investment, with pledges to promote green finance initiatives and strengthen responsible financial planning. Though cautious, the manifesto’s overarching promise is to balance fiscal prudence with investments in housing, energy, and public services, painting Labour as a party focused on addressing inequalities and renewing public infrastructure.