General Election 2017: What are the parties financial promises

ballot paper with pencil marking a cross

It is less than one week to go until the general election. But what are the main political parties promising when it comes to finances? Read our clear and no nonsense guide outlining what each party is promising for finances, education, young people, and in general to help you make up your mind when it comes to your vote.

The Conservatives are pledging to:

  • Improve mental health care access in schools;
  • Replace free school lunches with free breakfasts
  • Increase the personal allowance to £12,500 and
  • increase the National Living Wage.

In general terms, the Conservatives are advocating for lower taxes than some other parties.

Labour are pledging to:

  • Scrap tuition fees and reintroduce student grants;
  • Reintroduce Education Maintenance Allowance for 16-18-year-olds from middle and lower income households;
  • Improve careers advice in schools and invest more in teachers and education facilities in the further education sector;
  • Improve mental health care access in schools and extend schools-based counselling;
  • Provide free school meals;
  • Reduce the voting age to 16.

Whereas the Liberal Democrats are pledging to

  • Reinstate housing benefit for 18-21-year-olds;
  • Help young people move from renting a property to buying one without having to find a deposit;
  • Provide free school meals;
  • Reduce the voting age to 16.
  • And finally the Greens are pledging to:
  • Scrap tuition fees and reintroduce student grants;
  • Introduce Education Maintenance Allowance;
  • Guarantee access to apprenticeships for suitably qualified 16-25-year-olds;
  • Increase the national minimum wage to a living wage for all;
  • Reduce the voting age to 16.

All parties have different approaches to pensions and saving for your retirement.

We hope that this guide presents you with the facts to help you vote on 8th June. This content was created with Fergus Muirhead, creator of Money Sucks.

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