Shadow chancellor to unveil Tory plans to cut taxes and regulations

Shadow chancellor Andrew Griffith is due to outline the Conservatives’ plans for the UK economy, with a focus on reducing taxes, red tape and the cost of building homes.

Plans focus on taxes and regulation

Griffith’s forthcoming outline will present the party’s hopes for lowering the tax burden and reducing what it describes as red tape. The announcement is expected to set out how those priorities fit into the Conservatives’ approach to the UK economy.

House-building costs also included

The plans will also address the cost of house-building. Including construction costs alongside tax and regulatory measures places housing among the areas highlighted in Griffith’s economic agenda.

The source does not provide further details on the proposed measures, their timing or the scale of any reductions. It also does not state whether the proposals have been adopted as policy or explain their potential effect on businesses, households or the housing market.

What to watch for

The significance of the announcement will depend on the detail Griffith provides when he outlines the plans. For now, the stated priorities are tax cuts, less red tape and lower house-building costs as part of the Conservatives’ economic position.