Today is the day where Britons up and down the country will go to their local polling station and cast their vote. Though the polls have suggested a Tory win, Labour have been closing the gap and with the inaccuracy of past polls the voting public are finding this election hard to predict.
Judging by their manifestos, what can UK businesses expect from each of the leading parties? Here's our quick guide to the key issues.
Brexit
Conservative
- Leave the single market but work on 'special' partnership with EU
- Determine a "fair settlement of the UK's rights and obligations" when withdrawing from the EU
- Pass a Great Repeal Bill to replace EU law with UK law
Labour
- Replace Brexit white paper with a new set of priorities, 'emphasising' the single market and customs union
- Guarantee the rights of EU citizens with residency in the UK
- Replace the Great Repeal Bill and keep EU rights and protections
- Determine a "fair settlement of the UK's rights and obligations" in our withdrawal from the EU
Liberal Democrats
- Referendum vote on final Brexit deal which will include an option to remain in the EU
- Guarantee the rights of EU citizens with residency in the UK
- Stay in the single market and customs union
- Supporting the principle of free of movement between UK and EU
Tax and the economy
Conservative
- Balance the budget by 2025
- No increases to VAT
- Raise personal tax allowances and cut corporation tax
Labour
- Introduce £250bn stimulus package over 10 years
- No increase to personal National Insurance or VAT
- Reintroduce the 50p tax rate and raise income tax for high earners (over £80,000)
- Raise corporation tax to 26% by 2020/21
Liberal Democrats
- Balance day-to-day spending and reduce national debt as a proportion of GDP
- Add 1p to rate of income tax and ring-fence the money for the NHS and social care
- Borrow £100bn to invest in infrastructure such as transport, building homes, schools and hospitals
- Reverse cuts to corporation tax, capital gains tax and inheritance tax
'The future'
Conservative
- No Scottish independence referendum
- Relocate a significant number of civil servants outside London and the South East
- Create United Kingdom Shared Prosperity Fund
Labour
- Establish a constitutional convention to examine and advise on reforming Britain's constitution
- Reduce the voting age to 16
- Oppose Scottish independence referendum
- Create a role of Minister of State for England
Liberal Democrats
- Keep the Barnett formula for Scotland and Wales but seek to increase the Welsh block grant
- Oppose Scottish independence referendum
- 'Devolution on demand' for regions of England
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