UK general elections: Labour’s promise of political stability

After 14 years in power , the Conservative party will not only lose its hold on power , but Labour is set for a landslide victory with an overwhelming majority. The Tories will also lose seats to the Liberal Democrats , wh o seem to be becoming an active centrist opposition to the Labour party. Meanwhile, the “Farage effect”, while shoring up support for the Reform UK, is unlikely to secure any relevant number of seats in the UK parliament. Labour’s new image is positive ly associated with economic and political stability , as well as a cautious fiscal stance. Th is image of stability is also a reflection of the rather chaotic policy style by the Tories seen since Brexit. On the background of these last years the reassurance of Labour to bring "stability over chaos” sounds credible to many voters . T he Labour agenda entails net tax increases, while the Conservatives, although promising to reduce public debt over the next f i ve years , plan net tax cuts. As such, t he Labour party ’s fiscal plans look more convincing in reaching a balanced budget. At the same time , the fiscal plans in the Conservative manifesto seem less likely to b e “fully funded” . Thus, the fiscal path laid out by Labour is in the end mor e “conservative” than the one sketched out by the Tories.