The Conservatives used their annual party conference to outline key policies they would implement if they were elected.
New economic ‘golden rule’
Kemi Badenoch’s keynote speech confirmed a new “golden rule” designed to cut government borrowing and taxes. Half of all savings in any future Tory government would go towards reducing the gap between spending and tax revenues, and the other half would fund economic policies such as tax cuts.
Stamp duty
The party will abolish the “unconservative” stamp duty tax that people pay when buying a property. The “surprise announcement” from Badenoch yesterday was “warmly welcomed” by conference attendees, said Sky News, and would be paid for by £47 billion of planned spending cuts.
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Young buyers’ tax rebate
A £5,000 tax break would be offered to young people who get their first full-time job, to put the money towards a deposit on their first house. Funds would be “diverted” into a “long-term savings account”, said ITV News. But it isn’t yet clear what would happen for first-time workers “not looking to buy a home”.
Sentencing Council
Shadow justice secretary Robert Jenrick said the Tories would scrap the Sentencing Council, described as “not fit for purpose”, in favour of offering ministers the power to issue guidelines to English and Welsh courts. Former Tory ministers “expressed disbelief” at the plan, said The Guardian. Ex-attorney general Dominic Grieve said it was “bonkers”.
Energy bills
A future Tory government would cut energy bills by 20% by axing the carbon tax and wind farms. The party has promised the measure would save the average family £165 a year, while there are also plans to scrap Great British Energy – a Labour initiative.
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