- The growing problem of the tax burden should be properly addressed with a tax burden strategy which sets a long-term target of 30.3 per cent of GDP, matching the average tax burden imposed in the 1990s.
- The basic rate of income tax should be cut to 18 per cent.
- The personal allowance for both income tax and National Insurance should be raised to £14,000 and all thresholds for both should be unfrozen.
- Inheritance tax threshold should be raised to £1 million (and the main residence nil rate band scrapped).
- Corporation tax should be cut to 15 per cent.
- Stamp duty land tax threshold should be raised to £500,000 then £1 million.