Reform U.K. ~ Contract With You
I watched the live event held in Wales this morning when Nigel Farage and Richard Tice presented Reform UK's Contract With You, deliberately not called a manifesto. I am sure 99% of you aren't interested but for those who have an open mind I have copied some very important pledges below:Reform U.K. 'Our Contract With You' Launch ~ Wales Monday 17th June 2024 https://www.facebook.com/share/v/mmJnLyeDE7ViM2oL/? First 100 days: Critical reforms needed in the first 100 days:Free Over 1.2 Million Small and Medium Sized Businesses from Corporation Tax.
Lift the minimum profit threshold to £100k. Reduce the main Corporation Tax Rate from 25% to 20%, then to 15% from year 5.Abolish IR35 Rules to Support Sole Traders.
Britain's self-employed often work longer hours and take more risks. Many have no pension and receive no sick pay.Lift the VAT Threshold to £120,000.
Free up small entrepreneurs from red tape. Thereafter:Support Small and Medium Sized Enterprises.
SMEs represent over 95% of UK business and two thirds of all employment. Abolish Business Rates for High Street Based Small & Medium Firms. Offset this with Online Delivery Tax at 4% for large, multinational enterprises to create a fairer playing field for high streets. Cut entrepreneur's tax relief to 5%. SME Enterprise Zones for left-behind Areas with a period of zero tax for new or existing businesses that are creating jobs.Reform the Planning System.
Fast track new housing on brownfield sites and infrastructure projects to boost businesses, especially in the North and in coastal regeneration areas.Slash Business Red Tape. The Brexit Bonus.
Scrap thousands of laws that hold back British business and damage productivity, including employment laws that make it riskier to hire people.Reform the Tax System.
Major simplification is needed. At over 21,000 pages, the UK's tax code is a burden. Hong Kong's tax code is under 500 pages.Economy - Business Pledges Costs = £18 billion pa Inheritance Tax Reform has pledged to abolish inheritance tax for estates worth under £2m. In addition, it wants to reduce the charge from 40pc to 20pc. Currently, people can pass on £325,000 without having to pay death duties. Homeowners get an extra £175,000 allowance – so couples can leave behind a maximum of £1m.If you want to hear how Reform U.K. plan to fund these changes and to hear their policies on other key issues you can listen to the complete launch by using the FB link above. It has probably been uploaded to YT by now too.
Sue Hammond ● 654d21 Comments