STORY
The Conservatives have set out an economic programme based on reducing public spending, cutting taxes and removing regulations, with Shadow Chancellor Andrew Griffith saying that the party would use at least half of any savings to reduce the deficit while directing the remainder towards tax reductions and measures intended to support growth.
The party has identified £47 billion of proposed annual savings and has pledged measures including abolishing stamp duty on primary residences, removing business rates for thousands of high street businesses, introducing a £5,000 First Job Bonus for young workers and scrapping at least one tax at every Budget.
Its wider programme includes simplifying the tax system, changing planning rules, supporting a third runway at Heathrow and abolishing Natural England and the Environment Agency, although environmental organisations and political opponents have warned that the proposals could weaken protections and increase household energy costs.