Which party would cut your taxes in 2026?
A quick, neutral round-up of where each major party stands on tax — who is cutting, who is holding, and who is raising — with calculators to see your own figure.
Cutting taxes
- Reform UK: £20,000 personal allowance, £70,000 higher-rate threshold, stamp duty cut, corporation tax down to 15%.
- Conservatives: abolish stamp duty on main homes, Triple Lock Plus for pensioners, reverse school-fees VAT, axe the carbon tax.
Holding or raising
- Labour: no rise in headline rates, but frozen thresholds raise tax via fiscal drag; added VAT to school fees.
- Greens: higher taxes on wealth, capital gains and National Insurance over £50,270.
- Lib Dems: raise capital gains tax to fund the NHS.
The bottom line
If your priority is a lower personal tax bill, Reform proposes the largest cuts, with the Conservatives targeting property, pensions and school fees. Labour holds rates but freezes thresholds; the Greens and Lib Dems would raise taxes on wealth and gains. Try the calculators for your figure.
Frequently asked questions
Which party would cut my taxes the most?
For personal income tax, Reform UK's £20,000 allowance and £70,000 higher-rate threshold is the largest cut. The Conservatives focus cuts on stamp duty, pensioners and school fees. Labour holds headline rates but freezes thresholds; the Greens and Lib Dems would raise taxes on wealth and capital gains.
Would my taxes go up under Labour?
Labour has pledged not to raise the rates of income tax, National Insurance or VAT. However, freezing tax thresholds means many people pay more over time through fiscal drag.