June 17th 2024.
After a brief delay, Reform UK has finally released their "election contract" just six days after the Conservative Party unveiled their own policies. Nigel Farage, the newly appointed leader of Reform UK, has made it clear that his ultimate goal is to absorb the Conservative Party into his own. He believes that before long, he will become the main leader of the opposition in the House of Commons. Today, Reform UK announced their plans in an effort to gain support and outmaneuver the party that has been in power for the past 14 years. Let's take a closer look at how Reform and the Tories differ and agree on some of their top issues.
The topic of immigration takes the top spot in Reform UK's 24-page document, which comes as no surprise. They are calling for a freeze on "non-essential immigration" with the exception of certain sectors, mainly healthcare. They also have a four-point plan to "stop the boats," which includes leaving the European Convention on Human Rights, not allowing resettlement of illegal immigrants in the UK, creating a new Department of Immigration, and sending illegal migrants back to France if they arrive in vessels. Additionally, international students would only be allowed to stay if they have essential skills, and new visa rules would prohibit them from bringing dependents with them.
On the other hand, the Conservative Party's plan is to introduce a cap on migration that would be decided by an annual vote in parliament. Their strategy to "stop the boats" focuses on implementing the Rwanda deportation scheme as a deterrent and enforcing the Illegal Migration Act. While they also plan to restrict the number of international students bringing dependents with them, their manifesto takes a softer approach, stating that they will continue to attract the best and brightest students to study in the UK's top institutions.
Next, we turn to the topic of tax. Reform UK's headline policy is to increase the income tax threshold from £12,570 to £20,000, with the higher rate threshold also rising from £50,270 to £70,000. They also plan to lower fuel duty by 20p per litre and eliminate VAT on energy bills. Stamp Duty would be abolished for homes under £750,000, as well as Inheritance Tax for estates under £2 million. Reform UK believes that HMRC's understaffing and poor management have resulted in the loss of "tens of billions" in taxes, and they aim to improve competence and lower taxes. They also propose a higher rate of National Insurance for foreign workers.
The Conservative Party also has a plan for Stamp Duty, proposing to abolish it for first-time buyers purchasing homes up to £425,000. They also plan to reduce employee National Insurance by another 2p, bringing it down to 6%. Additionally, they have introduced the "Triple Lock Plus," which would prevent the state pension from being higher than the income tax threshold.
In terms of healthcare, Reform UK's plan promises to eliminate all NHS waiting lists and relieve pressure on the service by providing tax relief for private healthcare and insurance. They also propose that all frontline NHS and social care staff pay zero basic rate tax for three years to address staff shortages. If NHS patients cannot see a GP within three days, meet with a consultant within three weeks, or receive surgery within nine weeks, they would receive a voucher for private treatment. The Conservative Party, on the other hand, pledges to increase NHS spending above inflation each year and recruit 92,000 nurses and 28,000 doctors. They also plan to reduce waste and bureaucracy by cutting the number of managers in the health service by 5,500, freeing up £550 million for frontline services.
On the topic of the environment, Reform UK is critical of the government's net zero plans, stating that they are driving up bills and damaging British industries. Their solution is to scrap all net zero plans and fast-track North Sea oil and gas licenses. Their environmental measures include more tree planting, increased recycling, and less single-use plastics. The Conservative Party, on the other hand, promises to triple offshore wind capacity, build two carbon capture and storage clusters, and invest £1.1 billion into a scheme called the Green Industries Growth Accelerator. They remain committed to achieving net zero by 2050, but say they will take a pragmatic and proportionate approach.
Finally, we come to the topic of housing. Reform UK claims that their plan to cut immigration will help resolve the UK's housing crisis. They also propose to support landlords by scrapping the "section 24" law, which requires them to pay tax on all rental income, and the Renters' Bill, which would strengthen renters' rights and eliminate "no-fault" evictions. The Conservative Party also pledges to pass the Renters' Bill, stating that it will bring fairness to the rental market for both landlords and tenants. They also plan to build 1.6 million homes in England, including fast-tracking new homes on brownfield sites in the 20 largest cities.
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