Below are details of the policies has Truss proposed during the leadership contest.
TAX
– Hold an emergency budget and review of government spending
– Reverse a 1.25 percentage point rise in payroll tax known as National Insurance. The rise was introduced by Sunak in April to help pay for the health and social care system.
– Cancel a planned increase in corporation tax. The tax is due to rise from 19% to 25% from 2023 under plans announced by Sunak in March 2021
– Apply a temporary moratorium on environmental and social levies added to consumers’ electricity bills
– Not impose any new levies on unhealthy food and ditch plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar
– Review the way families are treated by tax authorities, with a view to easing the tax burden when family members are not working in order to care for children or relatives
ECONOMY AND DOMESTIC
– Review the Bank of England’s mandate without compromising its independence
– Create low regulation “investment zones”
– Introduce minimum service levels on critical national infrastructure and raise ballot thresholds to limit strike action
– Reform mortgage assessments to help those currently renting gain access to the housing market
– Scrap home-building targets, incentivise local authorities to build more houses and speed up the planning system
– Review how Britain will reach its 2050 net zero target to see how it can be done in a more “market-friendly” way
– No new Scottish independence referendum.
– A six point education reform package, including measures to cut childcare costs
– Temporarily expand seasonal workers scheme to ensure farmers have access to labour
– Tackle violence against women and girls including criminalising street harassment
INTERNATIONAL
– Increase defence spending to 3% of GDP by 2030
– Make Ukraine’s President Volodymr Zelenskiy the first foreign leader she calls as prime minister, and work with G7 allies to provide more lethal and humanitarian aid for Kyiv
– Commit Britain to a lead role in a “new Marshall Plan” for Ukraine
– Update Britain’s foreign policy to include new focus on China and Russia
– Seek a trade deal among Commonwealth members to act as a bulwark against China
– Scrap all remaining European Union laws that still apply in Britain by 2023, including Solvency II regulation and seek regulatory divergence from the EU
– Pursue more third country immigration processing partnership schemes, similar to the existing agreement to send some migrants to Rwanda.
Source: Economy - investing.com
