Kemi Badenoch Unveils £47bn Plan to Boost Economy, Cut Taxes, and Reshape Society
Kemi Badenoch, the Conservative Party leader, has outlined a series of ambitious plans for the UK's economy and society. Among her proposals is the abolition of stamp duty on primary residences, aimed at helping first-time home buyers. This move, along with other tax cuts and policy reversals, is set to cost around £9bn, with the National Insurance rebate and business rates cut together also amounting to approximately £9bn.
Badenoch's plans also include a vow to ban doctor strikes, limit access to the Motability scheme, and overhaul the education system. In contrast, a Conservative government would aim to double the number of apprenticeships and reduce 'debt trap' degrees. The Tories plan to control the university sector, allocating places based on degree quality and graduate outcomes.
To fund these initiatives, Badenoch has announced a £47bn savings package. The Conservative Party believes that sizeable savings to the welfare bill will help fund most government costs. The 'golden rule' of the Tories is to use half of government savings to cut the public deficit, which currently stands at 96.4% of GDP. Additionally, the party plans to cut stamp duty to free up the housing market and support young homeowners.
Badenoch's proposals, if implemented, would significantly reshape the UK's economic and social landscape. The abolition of stamp duty on primary residences, along with other tax cuts and policy changes, is projected to cost around £18bn in total. The Conservative Party's plans aim to stimulate the housing market, boost apprenticeships, and reform the education and university sectors, all while aiming to reduce the public deficit.
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