Kemi Badenoch will today set out a new ‘golden rule’ for managing the public finances and unveil what aides describe as a ‘totemic’ tax cut as she seeks to refocus the Conservative Party’s message on economic growth and fiscal discipline.
The Conservative leader is due to close the party’s annual conference in Manchester on Wednesday, outlining her plan to restore confidence in the Government’s handling of the economy. The new fiscal rule will require that half of all savings from spending cuts are used to reduce the deficit, with the remaining half directed towards lower taxes or targeted investment.
The announcement marks a clear pivot back to the economy after a turbulent conference dominated by internal debate on immigration, human rights and law and order.
Senior party figures said Badenoch’s fiscal framework was designed to provide “clarity and discipline” after months of economic instability and would serve as the foundation of her growth strategy heading into next year’s general election.
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