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An Inheritance Tax Cut, Help To Buy A Home And Pension Freedom To Stay: What The Conservative Election Win Means For Your Money

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http://www.thisismoney.co.uk/money/news/article-3073239/What-Conservative-election-win-means-money.html

An inheritance tax cut, help to buy a home and pension freedom to stay: What the Conservative election win means for your money
  • Commuter rail fares frozen
  • Yearly tax-free personal allowance to rise from £10,600 to £12,500
  • Welfare spending to be cut by £12billion

The final results are not quite in, but the Conservatives have scored a surprise election victory overnight.

Politicians have been making pledges, bribes and assurances left, right and centre over recent weeks in an attempt to snatch votes in what was believed to be the tightest election in a generation.

So what does the Tory win mean for your money?

The pledges the party made will affect Britons regardless of their life stages: pensions changes made now will affect workers today in decades to come; first-time buyer policies will affect the market for all homeowners, landlords and renters.

We go through some of the most significant proposals.

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The ~5% budget deficit and ~5% current account deficit will dictate the UKs future.

They were largely ignored in the last 5 years, why will the next 5 be different?

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They didn't promise #1 did they?

It's a HPC killer... it's bad enough Duel-Relief-IHT as it is now (£650,000)... single £325K... frozen there since around 2009/10.

I hope they can't follow through on that £1m IHT threshold commitment. That the lure of revenue is too much. And into any wider market softness, some bond event / stock market event... they reduce thresholds.

Not that the HPCers expecting a paradise system where the haves just hand back and share out all the wealth/houses/BTLs back to the masses need worry... they'll spend their entire lives in a deluded fantasy land. Even the HPC they do think possible is one where no one on the owner side can suffer any loss of position. They can't stomach a single DreamStart buyer from 2007 who hasn't put anything away for the £25K loan element, suffering any loss in position... always on side of the owners/buyers/debtors.

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And benefit cap will be reduced and the number of hours to get tax credits will be raised (my predictions).

When will all these kind of things be announced?

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The ~5% budget deficit and ~5% current account deficit will dictate the UKs future.

And benefit cap will be reduced and the number of hours to get tax credits will be raised (my predictions).

+1

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