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Which measures stand out in the Conservatives’ tax plan?

Making a tax cut pledge the centerpiece of the party’s economic agenda, Andrew Griffith said the Conservatives would aim to abolish at least one tax in every budget if they return to power. Speaking at the party conference in Birmingham, the shadow chancellor said such steps would only be taken if the public finances allowed and the funding source was made clear.

Griffith said at least half of the savings identified under the party’s economic framework would go toward reducing the deficit, while the rest would be used for tax cuts and measures to support growth. Under leader Kemi Badenoch, the party said it wants to project a different course, with a promise of a lower, simpler and fairer tax system.

High-value homes surcharge is in the crosshairs

One of Griffith’s priorities is the High Value Council Tax Surcharge, which would add an extra charge from 2028 on homes in England worth more than £2 million. The Conservatives say they want to scrap the measure, arguing that it would distort the housing market and discourage homeowners from investing in renovations.

The party also plans to abolish the EPR system, which makes manufacturers responsible for the cost of collecting, recycling and disposing of the packaging they put on the market. The move was presented as part of a broader push to cut compliance costs for businesses and ease the burden on companies.

What other steps are being proposed for business, housing and infrastructure?

Other proposals unveiled at the conference also directly affect the investment climate and the construction sector. The party wants to scrap some environmental and energy-efficiency rules, replace section 106 agreements and the Community Infrastructure Levy with a single developer levy, and support a third runway at Heathrow Airport.

  • Scrapping some environmental and energy-efficiency regulations, including future housing standards
  • Replacing the current two mechanisms that fund community projects with a single developer levy
  • Transferring the responsibilities of Natural England and the Environment Agency to Defra, the Department for Environment, Food and Rural Affairs

The Conservatives say the changes would speed up investment and support growth. Trade unions and opposition parties, however, warn that local infrastructure funding and environmental safeguards could be weakened.

Fiscal discipline and the pensions pledge are under debate

Griffith also said the party would keep the triple lock on state pensions despite the debate. The issue is being watched closely from a budgetary standpoint because of earlier concerns within the party about whether the system is sustainable.

The Labour Party said the Conservatives had failed to grow the economy during their 14 years in power. On the government side, Chief Secretary to the Treasury John Healey said the budget to be announced on October 28 would be built on fiscal discipline and aimed at giving families and businesses some breathing room.

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