UK Tories unveil plans for tax cuts and deregulation

Griffith sets out economic plans
Conservative shadow chancellor Andrew Griffith is expected to outline a package of economic proposals aimed at cutting taxes, reducing regulation and lowering the cost of building homes. The plans will be presented during the second day of the Conservative Party conference in Birmingham.

Tories promise major deregulation
Griffith is expected to describe the proposals as the “most ambitious deregulation project in a generation”. The Conservatives say reducing regulatory requirements would help businesses, increase investment and support economic growth.

House-building costs targeted
The party wants to remove some environmental and energy-efficiency requirements for new homes, including elements of the future homes standard. Conservatives estimate their proposals could reduce the cost of delivering a new home by as much as £50,000.

New levy for developers proposed
The Conservatives also want to replace Section 106 agreements and the Community Infrastructure Levy with a single charge for developers. They argue the system would reduce delays and ensure communities receive funding for infrastructure linked to new developments.

Natural England and Environment Agency targeted
The party is proposing to abolish Natural England and the Environment Agency, with their responsibilities transferred to the Department for Environment, Food and Rural Affairs. Conservatives have criticised the agencies over their role in planning, house building and flood prevention.

Union warns against regulator cuts
Mike Clancy, general secretary of the Prospect union, criticised the proposal, saying the agencies were already struggling because of previous funding reductions. He argued that restoring resources would be a better solution than removing the regulators.

Heathrow expansion backed
Griffith is also expected to support the expansion of Heathrow Airport, including the construction of a third runway. He said the UK needed to improve its infrastructure system and described the inability to expand Heathrow as a national embarrassment.

Conservatives promise to keep triple lock
Griffith confirmed that a future Conservative government would retain the state pension triple lock. His position differs from comments he made in 2021, when he argued the system was unfair because pensioners could benefit from economic circumstances that harmed others.

Food costs also targeted
The Conservatives plan to scrap the Extended Producer Responsibility scheme for packaging, which requires businesses to cover the costs of collecting and recycling packaging. The party argues that removing the scheme could reduce costs for businesses and eventually lower household food bills.

Tories seek economic reset
The proposals form part of the Conservatives’ wider effort to rebuild after their heavy defeat in the 2024 general election. Party leader Kemi Badenoch has also published a 100-page document outlining her principles and plans for a future Conservative government.

Labour attacks Tory record
Labour chair Bridget Phillipson criticised the proposals, arguing that the Conservatives had spent 14 years in government without delivering sufficient economic growth or helping people onto the housing ladder.

Reform accuses Tories of copying
Reform UK accused the Conservatives of adopting policies it had already proposed. Economy spokesman Robert Jenrick said the Tories could not match Reform’s pledge to increase the tax-free personal allowance to £15,000.

Liberal Democrats reject proposals
Liberal Democrat deputy leader Daisy Cooper criticised the Conservatives’ economic plans and accused the party of making financial promises that could not be taken seriously.

Greens oppose deregulation plans
Green Party MP Ellie Chowns said removing rules around housing and community infrastructure would not create sustainable growth. She argued that the proposals could leave communities facing greater costs while reducing protections.