The MoneySavingExpert founder has analysed the General Election result and what it could mean for people's finances after Keir Starmer was elected Prime Minister
Martin Lewis has shared his thoughts on the impact of Labour's General Election victory on personal finances.
He then forecasted that any forthcoming changes will need to be cost-effective for the Government. Martin stated: "What I expect is going to happen in the next couple of weeks, is Labour will get fully into Government and do some form of revelation, saying: 'Wow, the finances are so much worse than we expected, there's a big economic black hole, things are going to be very tough,' and then do some expectation management.
"But they're going to have to do it in a way that, where unless it was preannounced in the manifesto, it doesn't cost. " "It means the only thing you've got filling that black hole is growth and it will be very tough to have growth at the level that is needed to fill it. I think Capital Gains Tax is, to some extent, probably right for a few percentage point raised there.
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