The PM wants to spend more. He cannot afford that. He needs to start by helping the country earn more. Increasing the number and rates of taxes in this situation will damage growth and depress revenues. Removing bans, self defeating tax rates and excessive regulation could boost growth and bring in more tax receipts.
1. Lift the ban on exploring for new oil and gas offshore and onshore. Tax revenue will flow from the exploration work and jobs created.
2. Licence Rosebank and Jackdaw fields.Immediate big tax boost as their production kicks in.
3. Allow new onshore gas away from settlements and with royalties for local property owners. Plenty of potential new tax revenue.
4. Abolish carbon taxes and emissions trading to save high energy using industries. There has been a catastrophic rate of closures of oil refineries, ceramics factories, steel plant, petrochemical works,sugar beet,fibreglass, glass and other high energy users in the last two years. Pay for this by cancelling carbon capture and storage expenditures. Saving businesses keeps tax revenue on their jobs and activities which we still need.
5. Lift the progressive ban on new diesel and petrol car making which is destroying the car industry.
6.Remove the new 50% steel tariff which is damaging steel using industries and putting up construction costs.
7.Switch farming grants to helping food growing away from environmental and solar panel based hand outs
8. Cancel the disastrous give away of our fish to the EU and offer loans and grants to expand our fishing fleet, building the boats in the UK.
9. Cancel the tourist taxes and stop Councils buying investments in property and renewables with borrowed money
10. Exempt all small shops, leisure,pubs and High Street businesses from business rates, paid for by cutting money for anti vehicle road schemes which make it difficult for customers to use the roads to get to the shops and raise business costs.