2019 Election Comparison Calculator
With a General Election on 12th December, all the main parties have released details of their tax proposals. We have tried to show you what a difference these policies might make to your take-home pay. Enter your salary below and see how the different policies might affect you.
Please note that these are estimated figures only, based on the limited information the parties have made available.
Notes on the Election Comparison Calculator
The Election Comparison Calculator uses the information made available by the parties to estimate what the impact on you of those policy changes would be. In a lot of cases, not all of the details are available (for example, changes to tax bands or tax rates). The current rates and bands have been used, unless the party's policy specifies new thresholds. Since tax bands usually increase in line with inflation, it should be expected that by the next budget these would change but this information is not yet available.
Not all of the parties have made specific policy statements about every area of income tax / national insurance / pensions. The Election Comparison Calculator assumes that if no policy statement on a subject has been made by the party, no change would be made by them in their next budget. This means that the blind person's allowance and student loan repayments are the same across the board. Details of the general information used by the calculator are on the page about The Salary Calculator. Some changes will not apply in Scotland because taxation is a devolved power. The calculator only shows you changes to salary deductions - the parties may also have policies which would change other taxes such as VAT, property tax and capital gains tax, and/or provision of some services for free, like childcare. Party-specific details are below:
The Conservative manifesto makes no mention of changes to Income Tax, but does say that the lower threshold for employee's National Insurance would be raised to £9,500.
They also say they would raise the Living Wage to £10.50 / hour, although this does not affect the calculations.
Labour say that they will lower the threshold for 45% income tax to £80,000 and introduce a 50% rate for those earning over £125,000. They will also scrap the Marriage Tax Allowance, which allows you to transfer 10% of your unused personal allowance to your spouse.
They plan to increase the Living Wage to £10.00 / hour, although this does not affect the calculations.
The Liberal Democrats, like Labour, say they wil remove the Marriage Tax Allowance, which allows you to transfer 10% of your unused allowance to your spouse. They also plan to increase Income Tax rates by 1p in the pound.
The Brexit Party's "Contract with The People" doesn't contain any changes to salary deductions, so the numbers stay the same as they are currently. However, they do say that they will abolish interest on student loans, which will help people to pay them off sooner.
The Green Party's manifesto says that they would make significant changes to Income Tax, combining it with National Insurance, Capital Gains Tax, Dividend Tax and other such taxes. They also say they will replace the tax-free personal allowance with a Universal Basic Income of £4,628 per adult (those with children will receive more), and they will cut pension relief so it is only at Basic Rate.
The calculator tries to work out what these large changes would mean but it isn't totally clear exactly what the Green Party scheme would look like.
They also say they would increase the Living Wage to £12.00 / hour, and extend it to works aged between 16 and 21, but this does not affect the calculations.
UK Independence Party
UKIP say that they will increase the tax-free personal allowance to £13,000. No other changes are mentioned.