Our Economy Needs Reform Reform UK will make work pay and help the unemployed to escape the benefits trap.
CRITICAL REFORMS NEEDED IN THE FIRST 100 DAYS: Make Work Pay.
Lift the Income Tax Start Point to £20,000 Per Year This frees up to 7 million people from paying Income Tax and saves every worker almost £1,500 per year.
Basic Tax rate stays at 20%. The higher rate should begin at £70,000. Cut Energy Taxes, Beat the Cost-of-Living Crisis Save households over £500 per year. Lower fuel duty by 20p per litre for both residential and business users. Scrap VAT on energy bills. Scrap environmental levies.
Cut Residential Stamp Duty Substantially boost economic activity and housebuilding by cutting Stamp Duty to 0% below £750k. Cut it to 2% from £750k – £1.5m and cut it to 4% over £1.5m.
Abolish the VAT Tourist Tax The government has cost our economy over £10 billion when they stopped the VAT refund scheme for tourist shopping. This also deterred up to 2 million tourists.
Abolish Inheritance Tax (IHT) for all Estates Under £2m That means some 98% of all estates. The rate above £2m will be 20% tax, with the option to donate to charity instead
