ECONOMY

Tax Reforms

  • National Insurance to be rolled into income tax to ensure lowest paid are not disproportionately impacted
  • Introduce regionally applied living wage from 18 years old to replace minimum wage
  • Introduce online/platform transaction tax aimed at operators not consumers
  • Reform of inheritance tax
  • Close tax loopholes
  • Increase Entrepreneur Relief to £10 million and add a new Green Entrepreneur Tax Relief of £12 million
  • Address investment income/capital gains being lightly taxed relative to earned income
  • Increase tax on dividend income tax, corporation tax, CGT

SMEs

  • Bounce back loans to be written off for the 3 million excluded from support during the pandemic
  • Investment in tech and digital equipment to be treated as a capital investment rather than an operating expense

Business

  • Apply business rates on agricultural businesses
  • Property owners to pay business rate tax, not tenants, plus more frequent revaluations

Europe

There is no doubt that Brexit has damaged the UK, and that we need to find ways of minimising that damage.

Once the Tories are defeated, the UK can sit down with our friends and neighbours in the EU and negotiate a closer, more pragmatic, mutually beneficial relationship, without losing our independence or sovereignty.

A closer connection with Europe is economically, environmentally and security wise superior to any other relationship we can have with any other international friends. True & Fair would pursue such a relationship to boost economic growth, collaborate on environmental policies and to ensure the security of our nation.