1.Stabilisation of the Economy. A return to prudence and sustainable fiscal policies. Timetable to bring UK government spending back under the 3% of GDP deficit ceiling in a controlled way over 3 years. Moderate cuts across most government departments (salami slicing), and a drive to remove unnecessary layers of bureaucracy and endless quangos.
Would recommend a change in income tax banding. A 2-stage plan to restore tax revenues, and also to remove onerous taxation for the poorest in society. 55% tax rate for highest earners, and return to 22% for middle earners (over £15,500) – offsetting immediate reduction to 18% for earnings under £15,500. Followed in 3 years time by a further reduction in the lowest rate to 15% (giving time for coffers to be replenished in the meantime).
Slight raise of VAT to 18% (reviewable after 3 years).
2. Reappraisal of Housing Policy, tied in with immigration policy. General aim to keep UK population below 70m. Lower and more controlled immigration (also possible temporary restriction on numbers from EU countries, would need discussion with EU). Building of 500,000 – 1m new council homes over 5 years. Current numbers stand at 4m (with a waiting list of a further 4.5m people). Encouragement of brownfield redevelopment and low cost housing, and also carefully targeted use of greenbelt in key areas with least possible impact. Managed devaluation of housing market planned over 2 terms.
3. Review of UK Relationship with the EU. An open debate on future terms of UK membership including full appraisal of pros and cons, with referendum planned 18 months into first term. Would need to be thoroughly researched, and every effort made to handle things in as uncontroversial way as possible, to reassure international community and the markets. Two options:
a. Possibility of Norway/Switzerland style EU partnership. Cooperation with EU, but not a full member – keeping increasing number of key decisions in the UK. Remain in single market, whilst accepting moderate reduction in voting rights over policies.
b. Remain member of EU, fully participating, but with the general aim being to favour an EU of nations, rather than a single state. Possible return to EPP as practical move for more interaction and influence. Also, commitment to Britain keeping the pound, and also the budget rebate as long as it is justified. Move to reform CAP.
4. Commitment to retain Britain’s Nuclear Deterrent. Also, timetabled withdrawal from Afghanistan, and procurement of American equivalents to snatch land rovers (cheaper, and not done originally due to EU-centric procurement policy).
5. Encouragement of Enterprise and Industry. Boosting of efforts to retain key companies under British control, and also a move to lessen reliance solely on UK Financial Industry. Cap on banking bonuses, and more oversight/regulation of potentially irresponsible financial practices. Continued encouragement of investment in the UK (but not to the extent of foreign takeovers of key companies).
6. Conciliatory stance towards Argentina. Commitment to defence of Falklands as long as they desire to remain British – but discussion of possible joint exploration of waters for oil/gas reserves, and refining, etc. Could lead to improved relationships with South America, and possibility of supplying oil to the region (dependant on success of Falklands exploration). Could also open opportunities for other development opportunities in S. America.
7. Commitment to Relationship with USA, on friendly but practical terms. Tacit support, but acknowledgement that it has to be, and will be, in line with Britain’s interests and values. Encourage joint pursuit of environmental programmes, and moderation in foreign policy.
8. General commitment to search for most successful, fair and efficient policies for UK, regardless of traditional ideas of left and right-wing. Use of cross-party expertise where practical. Promotion of UK as modern, co-operative, and competent member of international community.
*Also commitment to continuing with plans for the High-Speed Rail Link.