Reform UK - Economy - Personal

Our Economy Needs Reform

Reform UK will make work pay and help the unemployed to escape the benefits trap.

Critical reforms needed in the first 100 days:

• Make Work Pay. Lift the Income Tax Start Point to £20,000 Per Year
  This frees up to 7 million people from paying Income Tax and saves every worker almost £1,500 per year. Basic Tax rate stays at 20%. The higher rate should begin at £70,000. Leave a Comment
• Cut Energy Taxes, Beat the Cost-of-Living Crisis
  Save households over £500 per year. Lower fuel duty by 20p per litre for both residential and business users. Scrap VAT on energy bills. Scrap environmental levies.Leave a Comment
• Cut Residential Stamp Duty
  Substantially boost economic activity and housebuilding by cutting Stamp Duty to 0% below £750k. Cut it to 2% from £750k - £1.5m and cut it to 4% over £1.5m. Leave a Comment
• Abolish the VAT Tourist Tax
  The government has cost our economy over £10 billion when they stopped the VAT refund scheme for tourist shopping. This also deterred up to 2 million tourists.Leave a Comment
• Abolish Inheritance Tax (IHT) for all Estates Under £2m
  That means some 98% of all estates. The rate above £2m will be 20% tax, with the option to donate to charity insteadLeave a Comment

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