Sir Keir Starmer, known for his support of Arsenal, has launched the Labour manifesto, which is characterized by a ‘boring, boring’ approach to policy. The 23,000-word document is conservative in its fiscal policies, with little dramatic changes proposed. The manifesto is aimed at workers, with no changes to income tax, national insurance contributions, and VAT, but with stricter measures for private equity executives and wealthy individuals. The manifesto also introduces GB Energy, a new initiative focused on investing in renewables.
The manifesto is seen as a safe strategy to avoid policy hiccups before the election, with potential big moves expected after the government is established. While the manifesto does not present significant changes for companies and investors, it does introduce some new measures to raise revenue, such as the abolition of non-dom tax status and charging VAT on private education fees. The focus on efficiency in spending is expected to boost fiscal resources by GBP 8.5bn.
In terms of healthcare, the manifesto outlines improvements for the NHS that lean towards more outsourcing of services. Additionally, there are plans for institutional reform and ethics in public life, which are expected to be prioritized by Labour once in power. The upcoming election on July 4th is predicted to be won by Labour, with a focus on high-profile foreign affairs events and policy moves on institutional reform in the early stages of their governance.
Overall, the manifesto is seen as ‘boring’ but safe, allowing Labour to navigate the election campaign with minimal policy friction. The party’s victory is expected due to voters’ discontent with the Tories, as well as potential damage from the Reform party on the Conservative votes. However, the manifesto may not present a convincing plan for kickstarting UK’s economy productivity, indicating that more substantial policies may be introduced in the future. In conclusion, while ‘boring’ may secure Labour’s victory, more robust economic strategies may be needed to address the challenges ahead under Starmer’s leadership.
