At home and abroad: Global numbers that matter and key election pledges

The world in numbers
From interest rate cuts and capital flight, to plunging currencies and growth wobbles, we highlight the numbers that matter this month

KEY ELECTION PLEDGES

THE CONSERVATIVES WILL...
  • Raise the level at which people start paying income tax to £12,500 a year, from £10,600, and introduce a law to ensure no one on the minimum wage will pay income tax.
  • Raise the threshold at which people pay 40 per cent income tax to £50,000 by 2020, from £42,385 today.
  • Exempt family homes from inheritance tax by introducing a new transferable main residence allowance of £175,000 per person.
  • Reduce tax relief on pension contributions for people earning more than £150,000.
LABOUR WILL...
  • Raise income tax to 50 per cent for those earning over £150,000 per year.
  • Bring back the 10p rate of income tax.
  • Introduce a “mansion tax” on properties worth more than £2m.
  • Levy a tax on bank bonuses.
  • Restrict tax relief on pension contributions for the highest earners.
THE LIB DEMS WILL...
  • Raise the income tax personal allowance to £11,000 from April 2016, and then to £12,500 after deficit reduction is complete.
  • Increase the highest rate of capital gains tax from 28 per cent to 35 per cent.
  • Introduce a “mansion tax-lite”, a staggered charge on homes worth more than £2m.
  • Launch a review to consider a single rate of tax relief for pensions.
UKIP WILL...
  • Increase the personal allowance to £13,000.
  • Create a new 30 per cent income tax rate for those earning between the current higher rate threshold and £55,000.
  • Abolish inheritance tax entirely.
  • Make it a criminal offence to cold call someone in respect of pension arrangements.

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