A Conservative Government will put economic stability first, reduce the burden on taxpayers and end stealth taxes.
The Northern Rock crisis has done enormous damage to London’s reputation as a financial centre. We will introduce a package of reforms to reverse that damage and restore confidence in Britain’s financial system:
- New deposit protection legislation - so depositors can get their money back immediately
- New pre-emptive powers so the financial authorities can take control of an institution close to failing
- Measures to ensure deposits are ring-fenced if a bank is taken into administration
We will build a sustainable, low-tax economy. Since 1997, taxes have risen by £5,400 for every family in the UK, after inflation. Businesses are suffering too. We will cut taxes on work, and on families, and pay for it by raising taxes on pollution. As the economy grows, we will share the proceeds of that growth between increased spending on public services and reduced borrowing or lower taxes.
We will also put an end to the stealth taxes which Mr. Brown is so fond of. The UK currently has the longest tax code in the world at just short of 10,000 pages - this is madness and simply has to change. |
