An Economy believing in Britain
Published Mar 23, 2015
As a party we back the aspirations and energies of British working people who wish to improve the living standards of their families through the fruits of their own labours rather than accepting the inevitable grievous disappointments of long-term state dependency.
We are in the extraordinary position of the insurgent party of British politics having spelt out its cuts, while the establishment parties have refused to do so. It is flabbergasting that George Osborne is going into the election having only set out departmental spending for one year ahead, while trying to get straight answers of Labour about its public spending plans is frankly impossible. Taken with other measures we will announce in our manifesto, this gives us annual savings of more than £25bn compared to the other parties, which would not do any of these things.
Deficit elimination is not some dry exercise in accountancy, but a vital task in the battle to bring financial stability to millions of British families. But it is a necessary rather than sufficient condition for protecting long-term living standards.
- Increase NHS spending by an extra £3bn a year
- Over the course of the next Parliament, our public spending plans will allow for cumulative extra spending on defence of more than £16bn compared to the government’s. That is an annual average of more than £3bn of extra spending on our armed forces.
- We would restrict child benefit for future claims to the first two children in any household.
- We must allow working people to keep more of the money that they earn and secondly we must put higher paid employment within their reach.
- We will commit to raise the personal allowance to at least £13,000 with a stated ambition to push it higher when public finances allow.
- We propose a lower intermediate tax rate that starts at the current upper rate threshold and that nobody pays tax at 40% until they are on earnings of at least £55,000.
- We would scrap inheritance tax altogether so that the assets people buy out of their already taxed income – principally their family homes – can be passed on to their chosen heirs without the state confiscating them in death.
- We would swiftly take foreign aid spending down to £2bn – saving £10bn a year by the middle of the next parliament.
- We would leave the EU, saving up to £10bn in annual net contributions.
- We would bring down UK taxpayer funding per head in Scotland to the level of England, saving several billion more.
- We would scrap straight away the HS2 vanity project, saving an average of at least £3bn a year between now and 2020.
Our economic vision is of an independent people in an independent Britain, people able to achieve their dreams and ambitions cheered on by an enabling state, not restrained by an all-enveloping one – help us to make it happen by voting UKIP on May 7th.